{"id":15099,"date":"2026-06-03T02:38:00","date_gmt":"2026-06-03T00:38:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=97d3a067a34ff4fde0a8b8f15c697db7"},"modified":"2026-06-03T02:38:00","modified_gmt":"2026-06-03T00:38:00","slug":"betterware-de-mexico-completes-acquisition-of-tupperwares-operations-in-latin-america","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=15099","title":{"rendered":"Betterware de M\u00e9xico Completes Acquisition of Tupperware\u2019s Operations in Latin America"},"content":{"rendered":"

\nClosing marks a transformative milestone in BeFra\u2019s strategy of building Latin America\u2019s leading direct-selling platform, uniting three iconic brands\u2014Betterware, Jafra, and Tupperware\u2014under BeFra\u2019s proven, scalable commercial growth model<\/i><\/p><\/a><\/a>

GUADALAJARA, Mexico--(BUSINESS WIRE)--Betterware de M\u00e9xico, S.A.P.I. de C.V. (NYSE: BWMX) (\u201cBeFra\u201d or the \u201cCompany\u201d), the parent company of Betterware and Jafra, today announced the successful completion of its previously announced acquisition of 100% of the Tupperware brand\u2019s operating assets in Latin America, primarily in Mexico and Brazil (\u201cTupperware Latin America\u201d), together with a perpetual, royalty-free, and exclusive license to the \u201cTupperware\u201d brand for the entire LatAM region1<\/sup>. The closing follows the receipt of all required regulatory approvals, including the clearance from the Comisi\u00f3n Nacional Antimonopolio (formerly COFECE), Mexico\u2019s antitrust authority, the approval of BeFra\u2019s shareholders, and the satisfaction of all other closing conditions.<\/p>

\nLuis G. Campos, BeFra\u2019s Chairman of the Board, stated: \u201cThe completion of the Tupperware acquisition represents a defining moment for BeFra and a transformative step in our journey of building the leading consumer-products platform in Latin America. Tupperware is one of the most iconic and beloved brands in the world, and we are honored to welcome its distributors, independent sales representatives, and employees to the BeFra family. We are confident that, by combining Tupperware\u2019s heritage with our proven direct-to-consumer capabilities, product innovation engine, and operational excellence, we will reignite sustainable, long-term growth and deliver meaningful value for all our stakeholders.\u201d<\/p>

\nAndr\u00e9s Campos, Chief Executive Officer of BeFra, added: \u201cThe closing of this transaction is a major step in our regional strategy. Brazil represents one of the most attractive consumer markets in Latin America, and the addition of Tupperware\u2019s established platform in the country, alongside its leading position in Mexico, materially expands our regional reach and accelerates BeFra\u2019s consolidation as the leading direct-selling platform across Latin America. With Tupperware now part of our portfolio, we are uniquely positioned to capture identified revenue and cost synergies across our three brands, deploy BeFra\u2019s proven commercial growth model, and unlock the full potential of our integrated manufacturing and distribution capabilities. Each brand will retain its distinct consumer value proposition and operate as an independent business unit, supported by BeFra\u2019s shared capabilities in product innovation, technology, and business intelligence.\u201d<\/p>

\nTransaction Overview<\/b><\/p>

\nConsistent with the terms announced on January 19, 2026, BeFra acquired the business for total consideration of US$250 million on a debt-free, excess-cash-free basis, comprised of US$215 million in cash funded with debt and US$35 million in newly issued BeFra shares. The shares issued to the seller are subject to customary registration rights and a lock-up of up to nine months from the closing date.<\/p>

\nThe acquired operations in Mexico and Brazil closed FY2025 in line with the estimates disclosed at announcement. The acquired operations have continued to be in line with the financial profile presented at the time of the transaction announcement. We have seen a slight outperformance led by Mexico, where the business is delivering stronger growth momentum than initially anticipated. The tables below provide a summary of key financial metrics for Tupperware Latin America\u2019s operations in Mexico and Brazil, as well as on a consolidated basis, comparing the figures disclosed at announcement (FY2025E) with actual FY2025 results and performance as of 1Q26:<\/p>

\nConsolidated<\/span><\/b><\/p>\n\n\n\n\n\n\n\n

\nMetric (US$ million)<\/b><\/p><\/td>

\nAt Announcement\n(FY2025E)<\/b><\/p><\/td>

\nActual FY2025<\/b><\/p><\/td>

\n1Q26<\/b><\/p><\/td><\/tr>\n

\nRevenue<\/b><\/p><\/td>

\n$269<\/p><\/td>

\n$270<\/p><\/td>

\n$75<\/p><\/td><\/tr>\n

\nAdjusted EBITDA<\/b><\/p><\/td>

\n$81<\/p><\/td>

\n$82<\/p><\/td>

\n$21<\/p><\/td><\/tr>\n

\nAdjusted EBITDA Margin<\/b><\/p><\/td>

\n~30%<\/p><\/td>

\n~30%<\/p><\/td>

\n~28%<\/p><\/td><\/tr>\n

\nNet Income<\/b><\/p><\/td>

\n$45<\/p><\/td>

\n$48<\/p><\/td>

\n$14<\/p><\/td><\/tr>\n

\nFree Cash Flow (est.)<\/b><\/p><\/td>

\n$38<\/p><\/td>

\n$39<\/p><\/td>

\n$13<\/p><\/td><\/tr>\n

\nImplied EV\/EBITDA Multiple<\/b><\/p><\/td>

\n3.1x<\/p><\/td>

\n3.0x<\/p><\/td>

\n\u00a0<\/p><\/td><\/tr>\n<\/table>

\nMexico<\/span><\/b><\/p>\n\n\n\n

\nMetric (US$ million)<\/b><\/p><\/td>

\nAt Announcement\n(FY2025E)<\/b><\/p><\/td>

\nActual FY2025<\/b><\/p><\/td>

\n1Q26<\/b><\/p><\/td><\/tr>\n

\nRevenue<\/b><\/p><\/td>

\n$175<\/p><\/td>

\n$179<\/p><\/td>

\n$49<\/p><\/td><\/tr>\n

\nAdjusted EBITDA<\/b><\/p><\/td>

\n$73<\/p><\/td>

\n$74<\/p><\/td>

\n$22<\/p><\/td><\/tr>\n<\/table>\n\n\n\n

\nMetric (US$ million)<\/b><\/p><\/td>

\nAt Announcement\n(FY2025E)<\/b><\/p><\/td>

\nActual FY2025<\/b><\/p><\/td>

\n1Q26<\/b><\/p><\/td><\/tr>\n

\nNet Income<\/b><\/p><\/td>

\n$44<\/p><\/td>

\n$44<\/p><\/td>

\n$15<\/p><\/td><\/tr>\n

\nFree Cash Flow (est.)<\/b><\/p><\/td>

\n$39<\/p><\/td>

\n$39<\/p><\/td>

\n$14<\/p><\/td><\/tr>\n<\/table>

\nBrazil<\/span><\/b><\/p>\n\n\n\n\n\n

\nMetric (US$ million)<\/b><\/p><\/td>

\nAt Announcement\n(FY2025E)<\/b><\/p><\/td>

\nActual FY2025<\/b><\/p><\/td>

\n1Q26<\/b><\/p><\/td><\/tr>\n

\nRevenue<\/b><\/p><\/td>

\n$94<\/p><\/td>

\n$91<\/p><\/td>

\n$26<\/p><\/td><\/tr>\n

\nAdjusted EBITDA<\/b><\/p><\/td>

\n$8<\/p><\/td>

\n$8<\/p><\/td>

\n-$1<\/p><\/td><\/tr>\n

\nNet Income<\/b><\/p><\/td>

\n$1<\/p><\/td>

\n$4<\/p><\/td>

\n-$1<\/p><\/td><\/tr>\n

\nFree Cash Flow (est.)<\/b><\/p><\/td>

\n-$2<\/p><\/td>

\n$0<\/p><\/td>

\n-$1<\/p><\/td><\/tr>\n<\/table>\n\n

\nNote: Figures at announcement reflect BeFra\u2019s estimates based on diligence review as disclosed on January 19, 2026. Actual FY2025 and 1Q26 figures correspond to the acquired operations in Mexico and Brazil and have been prepared on a management basis. Implied EV\/EBITDA multiples are calculated based on total transaction consideration of US$250 million on a debt-free, excess-cash-free basis. Free Cash Flow is estimated as Adjusted EBITDA minus capital expenditures and changes in working capital, and is presented as a non-IFRS measure.<\/i><\/p><\/td><\/tr>\n<\/table>

\nCapital Structure and Earnings Accretion<\/b><\/p>

\nBased on actual FY2025 closing figures of Tupperware Latin America, pro forma leverage stands at 1.9x Net Debt \/ EBITDA 20252<\/sup>, reflecting a conservative capital structure that remains appropriate for a transaction of this size and that preserves meaningful financial flexibility, consistent with BeFra\u2019s disciplined approach to balance sheet management and its existing dividend policy. On a pro forma basis, comparing BeFra\u2019s standalone FY2025 EPS of US$1.46 with the pro forma combined FY2025 EPS including Tupperware Latin America and adjusted for the acquisition financing costs, the transaction resulted in a pro forma combined EPS of US$2.11, representing an earnings accretion of approximately 44.5% to BeFra\u2019s shareholders and confirming the immediately accretive nature of the transaction.<\/p>

\nStrategic Rationale<\/b><\/p>

\nThe acquired business is a vertically integrated platform supported by more than 140 distributors and over 200,000 independent sales representatives, with top-tier manufacturing operations in Mexico and Brazil. Tupperware Latin America will operate as an independent business unit within the BeFra platform, preserving its distinctive consumer value proposition while benefiting from the same operating playbook that BeFra has successfully deployed across its existing portfolio, including the renewal of Jafra following its acquisition in 2022. BeFra has identified the following principal sources of value creation:<\/p>

    \n
  1. \nSuccessful operations at attractive scale and profitability in Mexico and Brazil. <\/b>Tupperware\u2019s operations in its two principal Latin American markets benefit from established commercial infrastructure, vertically integrated manufacturing, and a long track record of profitability and cash-flow generation, providing BeFra with a high-quality platform from which to drive its next phase of value creation.\n\n<\/li>\n
  2. \nStrength of the Tupperware brand across Latin America. <\/b>Tupperware is one of the most iconic and trusted consumer brands in the region, with deep brand equity, strong consumer recognition, and broad distribution reach, providing a durable foundation on which to reignite growth.\n\n<\/li>\n
  3. \nDeployment of the BeFra commercial growth model. <\/b>BeFra intends to apply across Tupperware Latin America the same proven commercial model deployed at Jafra, which has delivered approximately 18% revenue and 23% EBITDA CAGRs3<\/sup> from FY2022 to FY2025, encompassing product innovation, distributor productivity, technology and business intelligence, and operational excellence.\n\n<\/li>\n
  4. \nCost synergies across the combined platform. <\/b>BeFra has identified meaningful cost synergies to be captured over the medium term, particularly across procurement, corporate overhead, and the optimization of the manufacturing footprint, leveraging the installed capacity of Tupperware\u2019s plants in Mexico and Brazil across the broader brand portfolio.<\/li>\n<\/ol>

    \nIntegration and Leadership<\/b><\/p>

    \nTupperware Latin America will operate as an independent business unit under the BeFra umbrella, fully integrated within BeFra\u2019s operating platform. The business will be led by Chief Executive Officer Andr\u00e9s Campos and BeFra\u2019s central management team, with strategic guidance and coaching from Chairman of the Board Luis G. Campos, whose prior leadership of Tupperware Americas (1994\u20131999) provides valuable industry perspective to inform integration priorities and brand positioning. Day-to-day execution and operational decision-making will rest with the BeFra leadership team, supported by the deep industry experience of several BeFra executives who previously held senior roles at Tupperware in the region. This governance model is designed to ensure a precise and disciplined integration plan and the consistent deployment of BeFra\u2019s commercial growth model across the brand portfolio.<\/p>

    \nAbout BeFra<\/b><\/p>

    \nBeFra (NYSE: BWMX) is one of the leading consumer-products platforms in Mexico and Latin America, and the parent company of Betterware, Jafra, and Tupperware. The Company specializes in innovative home solutions, beauty and personal care, and direct-to-consumer product categories, supported by proprietary distribution systems, world-class manufacturing capabilities, and a longstanding culture of operational excellence.<\/p>

    \nAdvisors<\/b><\/p>

    \nDD3 Capital Partners acted as financial advisor to BeFra, with Greenberg Traurig and Demarest Advogados serving as BeFra\u2019s legal advisors. Ankura Consulting Group, LLC is acting as financial and operational advisor, and Dechert LLP and Creel, Garc\u00eda-Cu\u00e9llar, Aiza y Enr\u00edquez, S.C. are acting as legal advisors to Party Products, LLC.<\/p>

    \nNon-IFRS Measures<\/b><\/p>

    \nThis press release contains information about the following non-IFRS financial measures: EBITDA and Adjusted EBITDA. EBITDA is defined as profit for the year adding back depreciation of property, plant and equipment and right-of-use assets, amortization of intangible assets, financing cost (net), and total income taxes. Adjusted EBITDA further excludes gains or losses on the sale of fixed assets and adds back other non-recurring expenses. EBITDA and Adjusted EBITDA are not measures required by or presented in accordance with IFRS, have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, our results as reported under IFRS. The Company believes these measures are useful to investors because they are used internally to analyze operating profitability and provide comparability with industry peers.<\/p>

    \nCautionary Statement Regarding Forward-Looking Statements<\/b><\/p>

    \nStatements contained in this press release that are not historical, including statements regarding integration plans, expected synergies, accretion, leverage, and the financial and operational results of the combined business, constitute \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management\u2019s current expectations and are subject to risks, uncertainties, and assumptions that are difficult to predict; accordingly, actual results may differ materially. Such risks include, without limitation, our ability to integrate the acquired business and realize expected synergies, general economic conditions, competitive dynamics, input cost fluctuations, and other risks described under \u201cRisk Factors\u201d in our most recent Annual Report on Form 20-F and in our subsequent filings with the SEC. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update them except as required by law.<\/p>\n\n\n\n

    \n1<\/sup><\/p><\/td>

    		\n

    \nLicenses in Argentina will be effective starting September 2026.<\/p><\/td><\/tr>\n

    \n2<\/sup><\/p><\/td>

    		\n

    \nBefore the transaction BeFra\u2019s leverage stood at 1.6x Net Debt \/ EBITDA 2025.<\/p><\/td><\/tr>\n

    \n3<\/sup><\/p><\/td>

    		\n

    \nCAGR calculated from April 2022 (Jafra\u2019s acquisition) to 2025.<\/p><\/td><\/tr>\n<\/table>

    \n\u00a0<\/p> Contacts<\/b>

    \nCompany: <\/b>BeFra IR \u2014 iroffice@better.com.mx<\/a> \u2014 +52 (33) 3836 0500 Ext. 2011\nInvestor Relations: <\/b>InspIR \u2014 Barbara Cano \/ Ivan Peill \u2014 barbara@inspirgroup.com<\/a> \/ ivan@inspirgroup.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

    Closing marks a transformative milestone in BeFra\u2019s strategy of building Latin America\u2019s leading direct-selling platform, uniting three iconic brands\u2014Betterware, Jafra, and Tupperware\u2014under BeFra\u2019s proven, scalable commercial growth modelGUADALAJARA, …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15099","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/15099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15099"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/15099\/revisions"}],"predecessor-version":[{"id":15100,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/15099\/revisions\/15100"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}