Photo: Betterware’s Birmingham headquarters.
CVSL Inc. is strengthening its position in the U.K. direct selling market with the acquisition of Betterware Ltd., the Dallas-based company said Thursday. The deal follows CVSL’s February acquisition of Kleeneze, another prominent U.K.-based brand.
Like Kleeneze, Betterware has operated in the U.K. since the 1920s. Both brands market a range of houseware, home-cleaning, health and beauty, clothing and outdoor products. Birmingham-based Betterware has signed on about 5,000 distributors across the U.K. and Ireland. In its last reported 12-month period, the company posted net revenue of approximately $36 million.
“With both of these established consumer growth brands in the CVSL portfolio, we expect to have a total sales network of about 13,000 people in the U.K. market, making us a major income opportunity creator in the U.K. and Ireland,” CVSL’s Vice Chairman and CFO, John Rochon Jr., said in a statement. “Having Betterware and Kleeneze together inside CVSL should give us an excellent platform for expansion into other European markets.”
With its recent additions in the U.K., CVSL has built a portfolio of 10 direct selling companies. Previous acquisitions include The Longaberger Company, Your Inspiration at Home, Agel Enterprises and Uppercase Living. Under the CVSL umbrella, each company retains its own separate brand identity, salesforce and compensation plan while receiving combined operational support.
Managing Director Rob Way calls the opportunity to join CVSL a great one for 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,” said Way.