"BeautiControl is an ideal addition to our company," said Rick Goings, chairman and chief executive officer of Tupperware. "It brings not only a high-quality product line, but also a highly trained sales force that can be expanded here in North America and also in the large beauty products markets such as Latin America. Additionally, we are glad that Dick and Jinger Heath will continue to lead the business."
"Jinger and I are extremely excited that BeautiControl will become part of the Tupperware family," said Dick Heath. "When Tupperware approached us with the possibility of this transaction, Jinger and I knew it was the right thing to do for our independent sales force, shareholders and employees. The core values of both companies are almost identical and a common mission is to provide mostly women with a fulfilling, flexible career alternative. We view this entirely as a merger of strengths and look forward to a creative, prosperous and synergistic relationship.
" BeautiControl had sales of aproximately $65 million ($130 million retail) in 1999. For the six months ended May 31, 2000, the company had sales of $33 million ($65 million retail). Tupperware has annual sales of approximately $1 billion.