Tupperware brand in Latin America sold to major regional consumer products group BeFra for $250m

Image: Then President and CEO Laurie Ann Goldman in 2024 promotional picture

Party Products LLC, which bought the Tupperware brand out of US Chapter 11 bankruptcy in late 2024, has just completed the sale of its businesses in Latin America to Betterware de México (BeFra) for $250 million, split into $215 million in cash and $35 million in BeFra shares. The sale also includes a perpetual, royalty-free and exclusive licence to the Tupperware brand for the Latin-America region.

BeFra, which already owns the Betterware and Jafra brands, is a consumer homeware, beauty and personal care product platform operating across Mexico and Latin America under a direct-selling business model.

The deal was announced earlier this year, but has now completed after final legal and regulatory approval.

Party Products LLC is an investment vehicle including a number of Tupperware’s biggest institutional lenders, who negotiated a court approved deal for the company for $23.5m cash and $63m in debt relief. Party Products took over the Tupperware brand and allowed the Tupperware operations to continue while it oversaw restructuring.

Tupperware originally launched in 1946. It was sold through a direct-to-consumer sales channel, by a female salesforce running ‘Tupperware Parties’ in people’s homes. Once a huge global brand to be found in kitchens worldwide, it was also credited with providing many post-World War II women with their first opportunity to earn a significant amount. Vintage Tupperware is now highly collectable.

However, since the start of the 21st century, its direct business model became increasingly obsolete, with the rise of the internet and online shopping and the spread of rival food storage brands. Sales fell and borrowing increased, leading to the company admitting in 2023 that its future was in jeopardy and that it could no longer service its debt, as reported by Retail Dive.

According to a BeFra statement, Tupperware Latin America will now operate as an independent business unit alongside the Betterware and Jafra brands, all supported by the BeFra operating platform.

Andrés Campos, previously Betterware’s CEO and now BeFra CEO, will head the Tupperware unit, with support from the BeFra central management.

Campos said of the acquisition:

“With Tupperware now part of our portfolio, we are uniquely positioned to capture identified revenue and cost synergies across our three brands, deploy BeFra’s proven commercial growth model, and unlock the full potential of our integrated manufacturing and distribution capabilities. Each brand will retain its distinct consumer value proposition and operate as an independent business unit, supported by BeFra’s shared capabilities in product innovation, technology, and business intelligence.”