Prime Highlight
- Betterware de México (BeFra) has agreed to acquire Tupperware’s Latin American operations for $250 million, significantly expanding its presence in the region’s direct selling market.
- The deal grants BeFra a permanent, royalty-free, and exclusive license to use the Tupperware brand across Latin America, strengthening its portfolio alongside Betterware and Jafra.
Key Facts
- The acquisition consists of $215 million in cash funded through debt and $35 million in BeFra shares, and is expected to close in the first half of 2026, pending approvals.
- The transaction is projected to contribute about $81 million in annual EBITDA and increase BeFra’s earnings per share by an estimated 40%.
Background
Betterware de México, the parent company of Betterware and Jafra, announced on Monday that it has signed a definitive agreement to acquire Tupperware’s Latin American operations for $250 million. The acquisition will primarily cover operations in Mexico and Brazil and marks a major expansion for BeFra in the region’s direct selling market.
The deal includes $215 million in cash, which will be funded through debt, and $35 million paid through BeFra shares. As part of the deal, BeFra will receive a permanent, royalty-free and exclusive license to use the Tupperware brand in Latin America. The company expects to close the deal during the first half of 2026, subject to shareholder and regulatory approvals.
BeFra said the acquisition values the business at 3.1 times estimated 2025 EBITDA and is expected to add about $0.58 per share to earnings. The deal is also projected to contribute nearly $81 million in annual EBITDA, leading to an estimated 40% increase in earnings per share.
The debt used to fund the transaction is expected to raise BeFra’s leverage from 1.6 times to 1.9 times net debt to EBITDA. The company described this as a conservative increase and said it does not plan to change its dividend policy.
BeFra Chairman Luis Campos said the acquisition brings together three well-known brands in Latin America’s direct selling space and offers strong potential to revive Tupperware’s growth in the region.
Tupperware’s Latin American business operates with more than 140 distributors and around 200,000 independent sales representatives. It also runs manufacturing plants in Mexico and Brazil, which are currently operating below full capacity.
The transaction will be advised by DD3 Capital Partners, with legal support from Greenberg Traurig and Demarest Advogados.