DALLAS – CVSL Inc., parent of The Longaberger Company, announced it has purchased United Kingdom-based direct-seller Betterware, a home shopping company.
Betterware, known for its houseware and home care cleaning products, becomes the 10th company to join CVSL. The company, started in 1928, has grown to includes gifts, personal care and beauty, outdoor and electrical products.
CVSL Vice Chairman and Chief Financial Officer John Rochon Jr. said there are significant similarities between Betterware and Kleeneze, another UK direct-to-consumer company CVSL acquired in March.
“These two famous brands and their sales networks will remain separate, while we expect major synergies in the operations of the two companies that we believe will yield efficiencies and improve profitability for both,” Rochon said. “The sales networks and customers of both companies should benefit.”
With about 5,000 distributors, Birmingham-based Betterware conducts business throughout the UK and Ireland. Customers order through distributors as well as by phone and online. Betterware transacts about five million customer orders every year.
“With Kleeneze and Betterware side by side within CVSL, we have a powerful position in the UK home shopping market,” Rochon said. “With both of these two established consumer growth brands in the CVSL portfolio, we expect to have a total sales network of about 13,000 people in the UK market, making us a major income opportunity creator in the UK and Ireland.”
For its last reported 12-month period, Betterware reported net revenue of approximately $36 million.
“Joining the CVSL family represents a great opportunity for Betterware,” said Rob Way, Managing Director of Betterware. “This will open an exciting new chapter in our company’s long and storied history. We are eager to make the most of this alliance and believe the efficiencies to be gained will be very good for our distributors and their customers.”
CVSL owns nine direct-selling companies and one marketing and publishing company.
The Longaberger Company: hand-crafted baskets and other home decor items.
Betterware: houseware, home care cleaning products, gifts, personal care and beauty, outdoor and electrical products.
Your Inspiration At Home: hand-crafted spices and other gourmet food items.
Tomboy Tools: tools designed for women and home security systems.
Agel Enterprises: nutritional products in gel form and Caspi skin care line.
Paperly: custom stationery and other personalized products.
My Secret Kitchen: gourmet food products.
Uppercase Living: vinyl expressions customized for display on walls in the home.
Kleeneze: cleaning, health, beauty, home, outdoor and a variety of other products.
Happenings: a lifestyle publication and marketing company.
Be the first to comment on "CVSL Longaberger parent acquires UK’s Betterware"