ORLANDO, Fla., Dec. 14, 2017 /PRNewswire/ -- Tupperware Brands Corporation (NYSE: TUP) and Youngevity International, Inc. (NASDAQ:YGYI) today announced they have reached an agreement whereby Tupperware Brands will sell Beauticontrol assets to Youngevity, a leading omni-direct lifestyle company. As part of the deal, Youngevity will integrate Beauticontrol's sales force 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 sales force, and sales of the Beauticontrol product line by the existing Youngevity members.
"We couldn't be more pleased to reach this agreement with Youngevity. 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 sales force 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 sales force 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," said Rick Goings, Chairman and CEO of Tupperware Brands.
"We're thrilled and proud to enter into an agreement with Tupperware who has built an iconic and impressive global brand and company. We look forward to welcoming the sales force of Beauticontrol and expanding the innovative product development that Beauticontrol has become known for over the last 27 years," said Steve Wallach, CEO and Chairman of Youngevity.
For more information on how to engage as a Beauticontrol member please send inquiries by email to [email protected].
J.P. Morgan Securities LLC served as exclusive financial advisor and Sidley Austin LLP served as legal advisor to Tupperware Brands.
About Tupperware Brands Corporation
Tupperware Brands Corporation (NYSE: TUP), through an independent sales force of 3.2 million, is the leading global marketer of innovative, premium products across multiple brands utilizing social selling. Product brands and categories include design-centric preparation, storage and serving solutions for the kitchen and home through the Tupperware brand and beauty and personal care products through the Avroy Shlain, Fuller Cosmetics, NaturCare, Nutrimetics, and Nuvo brands.
About Youngevity International, Inc.
Youngevity International, Inc. ( NASDAQ : YGYI ), is a leading omni-direct lifestyle company -- offering a hybrid of the direct selling business model, that also offers e-commerce and the power of social selling. Assembling a virtual Main Street of products and services under one corporate entity, Youngevity offers products from the six top selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry, as well as innovative services. The Company was formed in the course of the summer 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company (now part of the company's food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. For investor information, please visit ygyi.com. For general information on products and services, please visit us at youngevity.com. Be sure to like us on Facebook and follow us on Twitter.
Tupperware Brand's stock is listed on the New York Stock Exchange (NYSE: TUP). Statements contained in this release, which are not historical fact and use predictive words such as "estimates", "outlook", "guidance", "expects", "target" or "will" are forward looking statements. These statements involve risks and uncertainties that include the integration of Beauticontrol's sales force into Youngevity's system, recruiting and activity of Beauticontrol's and Youngevity's independent sales force and members relating to governmental actions and otherwise, the success of new product introductions and promotional programs, governmental approvals of materials for use in beauty and personal care products, the effects of economic and political conditions and other risks detailed in the Company's periodic reports as filed in accordance with the Securities and Exchange Act of 1934, as amended.
SOURCE Tupperware Brands Corporation