CVSL, Longaberger’s parent company, announced today it plans to acquire Agel Enterprises, a direct-seller of skin care products and nutritional supplements.
Founded in 2005 and based in Utah, Agel sells its products in more than 40 countries around the world, including Europe, North America, Latin America and Asia.
CVSL chairman John Rochon said acquiring Agel will allow CVSL to enter the $32 billion nutritional supplement market as well as the $90 billion skin care market, while establishing a global presence.
“Each of the direct selling companies CVSL has or is in the process of acquiring represents an important and distinct category,” Rochon said.
Your Inspiration At Home is an Australian-based direct seller of handcrafted spices.
Tomboy Tools, based in Denver, sells a line of tools ergonomically designed for women, and home security products.
“We especially like the fact that Agel has an established presence in key international markets, with particular strength in Europe and Russia,” Rochon said.
CVSL completed its acquisition of Longaberger on March 15, acquired Your Inspiration At Home on June 21, and announced a letter of intent to acquire Tomboy Tools on July 12.
“Agel is a respected brand with talented leadership and we believe it has a bright future. We intend for CVSL to be global in scope and this is an important step in that direction. We plan to leverage Agel’s infrastructure in countries around the world across CVSL’s full portfolio of companies.”
Agel offers a line of skin care products under the brand Ageless. Rochon said CVSL intends for current Agel management to continue in its present roles.
Rasmussen was president of Mary Kay Europe and launched Mary Kay’s operations in Russia, heading that market for a decade and leading it to become one of the company’s largest.
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