CVSL Inc. [NYSE MKT: CVSL] announced today that it has successfully funded and closed its previously-announced acquisition of Kleeneze, one of the UK’s longest-operating, largest and best-known direct-to-consumer businesses. With the addition of Kleeneze, CVSL’s business portfolio expands to nine companies.
The most recently reported revenue of Kleeneze and CVSL combines for over $180 million.
“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 has purchased 100% of the shares of Kleeneze from Findel PLC for a total consideration of $5.1 million. The consideration included $3 million of senior debt provided by HSBC Bank PLC. The remainder was funded by