Co-Founders Reacquire Silpada Designs
LENEXA, Kan., July 2, 2013 /PRNewswire/ -- Silpada Designs, the world's largest sterling silver jewelry home party company, today announced it has been reacquired by its Co-Founders from Avon Products, Inc.
Jerry and Bonnie Kelly, and Tom and Teresa Walsh reacquired Silpada along with their families after reaching an agreement with Avon, which originally purchased Silpada in July 2010.
"We are excited and inspired to move Silpada forward. Silpada's long-term interest is best served by being in the hands of people who founded it, grew it and continue to love it," said Silpada Co-Founder Jerry Kelly. "This move will ensure Silpada will continue for decades and generations to come, and remain a family-owned business."
Silpada has appointed Kelsey Perry and Ryane Delka, daughters of the Walsh and Kelly families respectively, to serve as Co-Presidents. Perry most recently worked as Silpada's Brand Merchandising Manager, and Delka was formerly Silpada's Vice President of Sales, Development and Training.
"Kelsey and Ryane grew up with Silpada and have held numerous roles, touching many aspects of the business," said Silpada Co-Founder Bonnie Kelly. "As members of Silpada's management team, they have been involved in the strategic vision of this company for many years and have earned respect from their colleagues and Silpada Representatives."
"In their new roles, Kelsey and Ryane will apply their passion and knowledge to help Silpada grow well into the future," said Silpada Co-founder Teresa Walsh. "They are emotionally, professionally and financially invested in Silpada."
As a privately-held company, Silpada will be overseen by a Board of Directors led by Co-Chairmen Tom Walsh and Jerry Kelly. Bonnie Kelly, Teresa Walsh, Delka and Perry also will serve on the board.
Silpada's international corporate headquarters and distribution center will remain located in Lenexa, Kan. on its existing 30-acre campus. In addition, there are no plans to change the location of Silpada's Canadian headquarters in Mississauga, Ontario. Silpada employs more than 300 employees in the U.S. and Canada.
"Kansas City is home for Silpada, and we wanted to keep Silpada in the community where it all started," said Silpada Co-Chairman Tom Walsh. "We are excited that Silpada will remain a Kansas City-based, family-owned business with strong economic development opportunities."
In addition, Silpada is excited to announce that Tom Kelly will remain as Silpada's Chief Executive Officer. With 33 years of direct sales industry experience, Tom has held numerous positions in strategy, sales operations and marketing. Prior to joining Silpada he served as Avon's Senior Vice President of Global Sales Development. Tom Kelly is Past Chairman for both the U.S. Direct Selling Association (DSA) and the Direct Selling Education Foundation (DSEF). Tom Kelly joined Silpada as President and Chief Operating Officer in March 2012 and was promoted to CEO in July 2012.
"Clearly, the Silpada team has a long-term vision that I believe in, and I look forward to helping our Representatives, employees and new ownership grow this business for years to come," Tom Kelly said. "I am very excited about Silpada's future."
Earlier this year, Avon announced it was reviewing strategic alternatives for Silpada. After a thorough review, Avon determined it was best for them to divest Silpada. At the end of a broad auction process, the Kelly and Walsh families emerged as the highest bidder.
The transaction is expected to close on July 3, 2013. The Kelly and Walsh families were advised by Lazard Middle Market LLC and Lathrop & Gage LLP.
About Silpada Designs
Silpada Designs is the largest and fastest-growing sterling silver jewelry home party company. Silpada celebrates 16 years of empowering thousands of women to build self-esteem, form lifelong friendships and achieve financial success. More than 32,000 independent Representatives throughout the United States and Canada sell Silpada's handcrafted sterling silver jewelry.
Visit Silpada.com or call 1-888-SILPADA (745-7232) to learn more about Silpada Designs jewelry, to find a representative or to learn how you can join the Silpada Designs' family as an independent representative.
For more information contact:
W: (913) 851-7757 x1169
C: (913) 645-2421
W: (913) 851-7757 x1034
C: (816) 500-5911
SOURCE Silpada Designs
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