CVSL Announces Signing Of Definitive Agreement To Acquire Your Inspiration At Home
DALLAS, June 21, 2013 /PRNewswire/ -- CVSL Inc. (stock symbol: CVSL) announced today that it has signed a definitive agreement to acquire award-winning Your Inspiration At Home, a direct seller of hand-crafted spice blends and gourmet foods from around the world, which is entering the North American market as its next step in a global expansion.
"Signing this definitive agreement is another milestone for CVSL's strategy," said John Rochon, CVSL's chairman. "From the moment we learned about Your Inspiration At Home, we knew there was tremendous opportunity here. It's a great product line with an inspirational leader. We believe it has unlimited potential."
"People who are already active in direct selling will find this company very fresh and appealing and well worth exploring. People who are new to direct selling but who love food and love to cook will find it very attractive as well," he added.
Your Inspiration At Home currently operates in Australia and is now entering the American, Canadian and United Kingdom markets. Last month it opened its U.S. headquarters in Newark, OH. Product blending will be done at a CVSL sister company facility in Texas.
Founder Colleen Walters said the signing of today's definitive agreement is a proud moment for her company. "We know how good our product line is. We've worked hard to make it really special, and we're winning awards and getting a lot of attention. Now we have a base from which we can tell our story to hundreds of millions more people," she said. "We're thrilled to be part of the CVSL family."
Your Inspiration At Home was founded in 2011 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.
CVSL Inc. 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.
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