December 15, 2017
Tupperware Brands Announces Sale of Beauticontrol Assets to Youngevity
Orlando, Florida-based Tupperware Brands Corp. and Chula Vista, California-based Youngevity International Inc. yesterday announced they have reached an agreement whereby Tupperware Brands will sell Beauticontrol assets to Youngevity, an omni-direct lifestyle company.
As part of the deal, Youngevity will integrate Beauticontrol’s salesforce into its company, marketing Beauticontrol branded products, as well as the other brands in Youngevity’s extensive product portfolio. Youngevity will also market Beauticontrol branded products to its existing member base. Tupperware will earn a royalty based on future sales of the Beauticontrol salesforce, and sales of the Beauticontrol product line by the existing Youngevity members.
“We couldn’t be more pleased to reach this agreement with Youngevity,” said Rick Goings, chairman and CEO of Tupperware Brands. “We feel Youngevity’s 20-year history and impressive track record make them the ideal company to welcome Beauticontrol into its family of brands. The agreement will allow Beauticontrol’s salesforce to again be able to purchase many of the products that they and their customers love. As part of Youngevity, the Beauticontrol product line will have an even wider audience through its existing members, and by joining Youngevity the Beauticontrol salesforce members will be able to enjoy a terrific direct selling earning opportunity. While likely to be modest in any particular year, monetizing these Beauticontrol assets is a win for Tupperware Brand’s shareholders.”
“We’re thrilled and proud to enter into an agreement with Tupperware, who has built an iconic and impressive global brand and company,” said Steve Wallach, CEO and chairman of Youngevity. “We look forward to welcoming the salesforce of Beauticontrol and expanding the innovative product development that Beauticontrol has become known for over the last 27 years.”