CVSL And Paperly Finalize Transaction
DALLAS, Dec. 20, 2013 /PRNewswire/ -- CVSL Inc. [stock symbol: CVSL] and Paperly LLC announced today that they have successfully closed the transaction for Paperly to become part of CVSL's family of micro-enterprise companies. The two companies had signed a letter of intent for the transaction on November 1.
Chicago-based Paperly allows its independent sales consultants to work with customers to design and create custom stationery through home parties, events and individual appointments. The company was founded five years ago by Jay and Cindy Rudman. Paperly's brand has expanded since its founding to encompass a wide-range of personalized products including clipboards, cutting boards, iPhone cases and more.
"Paperly is an exciting addition to our CVSL family, not only because it offers such great products to its customers, but also because now we can bring these personalized products to all of the other CVSL companies as business-building tools to help support their sales forces," said John Rochon, CVSL's chairman.
"We're delighted that we have been able to finalize our entry into CVSL so quickly," said Mr. Rudman. "Being part of CVSL means we can grow in ways that never would have been possible before. Our Paperly family is thrilled that we have taken this step."
CVSL is a publicly-traded company that owns and operates a growing group of micro-enterprise companies that connect social media networks into an ever-expanding virtual "community" of social commerce. CVSL companies currently include The Longaberger Company, a 40-year old maker of hand-crafted baskets and other home décor items; Your Inspiration At Home, an award-winning maker of hand-crafted spices and other gourmet food items from around the world; Tomboy Tools, a direct seller of tools designed for women as well as home security systems; and Agel Enterprises, a global seller of nutritional products in gel form as well as a skin care line sold under the Ageless™ brand, operating in 40 countries. CVSL also has signed letters of intent with Golden Girls, which purchases gold and tradable jewelry, and My Secret Kitchen, a U.K.-based seller of gourmet foods, to acquire 100% of their assets.
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SOURCE CVSL Inc.