Kleeneze Now Part of CVSL

UNITED KINGDOM: CVSL Inc., Dallas, TX, has successfully funded and closed its previously-announced acquisition of Kleeneze, a UK’s direct-to-consumer businesses. 

Founded in 1923, Kleeneze has more than 7,000 independent distributorships, offering a wide variety of several thousand cleaning, health, beauty, home, outdoor and other products to customers across the UK and Ireland. 

With the addition of Kleeneze, CVSL’s business portfolio expands to nine companies. The most recently reported revenue of Kleeneze and CVSL combines for more than $180 million, according to CVSL.

“We are pleased that this latest addition to the CVSL federation of direct-to-consumer companies is now complete,” said John Rochon Jr., CVSL’s vice chairman and chief financial officer. “We have said that our 2015 priority is to continue making acquisitions. This represents another step forward in our buildup strategy.”

CVSL purchased Kleeneze from Findel PLC for a total consideration of $5.1 million, which included $3 million of senior debt provided by HSBC Bank PLC. 

CVSL describes itself as a “growing federation of direct-to-consumer companies.” The firm’s roster includes basket and home décor firm The Longaberger Company, food and spice firm Your Inspiration At Home, tool maker Project Home and nutritional and skin care company Agel Enterprises.