BeautiControl/Tupperware $65 Mil. Merger Fuels Overseas Expansion Efforts
This article was originally published in The Rose Sheet
Executive Summary
BeautiControl's direct sales overseas expansion will be fueled by new parent company Tupperware through a merger agreement announced Sept. 13. Under the $65 mil. deal, BeautiControl shareholders, which own 47% of the company, will sell to Tupperware at $7 per share.
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BeautiControl
Net sales up 10% to $12.2 mil. and profits up "substantially" to $100,000 in 13 weeks ended Dec. 30 subsequent to acquisition by parent company Tupperware, food storage direct seller announces Jan. 29. Tupperware closed its purchase of the beauty direct seller Oct. 17 with approximately 17 mil. shares of BeautiControl common stock sold at $7 per share (1"The Rose Sheet" Oct. 23, 2000, In Brief). BeautiControl will enter Latin American market in first half of 2001 (2"The Rose Sheet" Sept. 18, 2000, p. 10)
BeautiControl
Net sales up 10% to $12.2 mil. and profits up "substantially" to $100,000 in 13 weeks ended Dec. 30 subsequent to acquisition by parent company Tupperware, food storage direct seller announces Jan. 29. Tupperware closed its purchase of the beauty direct seller Oct. 17 with approximately 17 mil. shares of BeautiControl common stock sold at $7 per share (1"The Rose Sheet" Oct. 23, 2000, In Brief). BeautiControl will enter Latin American market in first half of 2001 (2"The Rose Sheet" Sept. 18, 2000, p. 10)
BeautiControl merger
Richard Heath named Tupperware senior VP-beauty and nutritional products in addition to existing responsibilities as BeautiControl CEO, Tupperware announces Oct. 18. Heath has 32 years experience in the personal care industry and has served as BeautiControl chief exec since the company was founded in 1981. Tupperware closed its purchase of the direct seller Oct. 17; approximately 17 mil. shares of BeautiControl common stock were sold at $7 per share. BeautiControl will enter the Latin American market in the first half of 2001 (1"The Rose Sheet" Sept. 18, p. 10). Chairman Jinger Heath remains in her current position