Betterware de México, S.A.P.I. de C.V. (Nasdaq: BWMX) (“Betterware” or the “Company”), today announced the successful completion of its previously announced acquisition of 100% of JAFRA’s operations in Mexico and the United States, along with JAFRA’s trademark rights worldwide, from the Vorwerk Group based in Germany, after the approval from COFECE, Mexico´s antitrust agency.
Luis G. Campos, Executive Chairman of Betterware’s Board, stated, “We are very pleased to complete the acquisition of JAFRA’s operations in Mexico and the United States. This acquisition increases our categories served to include beauty and personal care products, accelerates our entry into new geographies and leverages our infrastructure to elevate JAFRA’s distribution model. We are delighted to welcome all JAFRA employees, leaders and consultants to our company and are excited to begin this next chapter of growth more powerfully positioned. Overall, we remain confident in our ability to deliver long term profitable growth and increase value for all Betterware stakeholders.”
JAFRA is a world leading brand of Direct Selling in the Beauty and Personal Care (B&PC) products industry with a strong presence in Mexico and the United States, with ~443k independent leaders and consultants selling unique products the company registered revenues of ~Ps 5.8bn in 2021. JAFRA has built, in over 65 years of experience in the direct selling of B&PC products, a proven track record and a profitable business model that yields high cash flow generation. JAFRA will operate as a separate subsidiary with its management team remaining fully focused on its operations and growth strategies.
Betterware intends to reinforce its three strategic pillars of Product Innovation, Technology and Business Intelligence across JAFRA’s operations in order to drive and capitalize on operational synergies. Betterware expects that by implementing best practices across JAFRA’s to enable it to reach its full potential in the US and Mexico and accelerate overall revenue growth at increasing rates of profitability for the combined company. Betterware’s management team strongly believes that by elevating and building on its technology tools and platforms it will enable JAFRA to have a greater market reach and to take advantage of the e-commerce opportunity in Mexico and the US.
Check Out the New Martech Cube Podcast. For more such updates, follow us on Google News Martech News
