CVSL Announces Letter Of Intent To Acquire Award-Winning Direct Seller Of Spice Blends
DALLAS, May 8, 2013 /PRNewswire/ -- CVSL Inc. (stock symbol: CVSL) announced today that it has signed a letter of intent to acquire Your Inspiration At Home, an innovative and award-winning direct seller of hand-crafted spices from around the world.
"This is an example of CVSL's strategy of being a base for up-and-coming direct selling companies," said John Rochon, CVSL's chairman. "We'll go to the ends of the Earth to find the best companies for our shareholders. Your Inspiration At Home is an exciting company with an impressive leader and a unique product line. They've only scratched the surface of their potential. We love their products and we believe they'll be very appealing to the U.S. market and to global markets."
Your Inspiration At Home currently operates in Australia and is poised to enter the American, Canadian and United Kingdom markets.
"Our CVSL infrastructure in Texas and Ohio will provide the launch pad that Your Inspiration At Home needs, with headquarters offices, customer and sales force support, distribution and manufacturing. It will allow ingredient sourcing, production and quality control to be within the CVSL family," noted Mr. Rochon. The products will be blended at a CVSL sister company facility in Texas.
"For centuries, spices have been associated with a healthy lifestyle. When we learned about these spice blends, we knew this would be a great fit with our interest in healthy products," said Mr. Rochon.
Your Inspiration At Home was founded in 2011 and is headquartered in Australia. Its product line includes more than 150 hand-crafted spice blends inspired by and created with spices from every continent. The line includes award-winning gourmet seasonings; dip mixes; herb, nut and spice mixtures; oils and vinegars; meat rubs; salt dusts and chocolate powder blends. Since the company's inception less than two years ago, revenue has reached several million dollars. Its web site is www.yourinspirationathome.com.au.
Recently, the company was awarded 18 medals from 25 entries at the 2013 Melbourne Fine Food Awards. Those awards followed the winning of 45 medals out of 56 products it entered in the prestigious Royal Hobart Fine Foods Awards, including 26 gold medals. The company also was a finalist in the All Natural/Organic category of the 2011 Food Magazine Food Challenge Awards.
Founder Colleen Walters has 17 years of direct sales experience in the U.S. and Australia as an executive with several companies. She also has consulted to direct sales companies.
"Food is the world's common language. It's my vision to connect cultures and make the world a smaller place through Your Inspiration At Home. It's also my passion to empower women to achieve their goals, receive the recognition they deserve and unite them through friendship. As part of CVSL, we can take this company to the next level and I'm thrilled about this huge step for us," said Ms. Walters.
She said that becoming part of CVSL is the key to her company's expansion into the U.S. market and beyond. "We're eager to tell our story in the U.S. market," said Ms. Walters. "As part of CVSL, we believe we can have real success in every market. This is the next step toward our becoming a truly global company."
CVSL Inc. (previously Computer Vision Systems Laboratories) is an innovative public company pursuing a strategy of gathering together multiple companies in the direct selling, or micro-enterprise, sector. Each company will maintain its own separate brand identity, leadership and product line.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical fact contained in this press release are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the negative of these terms or other comparable terminology. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only expectations and involve known and unknown risks, uncertainties, and other factors, including the risks outlined under "Risk Factors" in our Annual Report on Form 10-K for our fiscal year ended December 31, 2012 and those discussed in other documents we file with the Securities and Exchange Commission, which may cause our actual results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements to differ materially from expectations. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations.
SOURCE CVSL Inc.