Betterware de México completes acquisition of Tupperware’s operations in Latin America

Betterware de México (NYSE: BWMX), parent company of Betterware and Jafra, has completed the acquisition of Tupperware’s operations in Latin America, marking a significant expansion of its consumer products portfolio in the region. The transaction, which was announced in January 2026, includes the acquisition of Tupperware’s operating assets in Mexico and Brazil, the region’s core markets, along with perpetual, royalty-free, and exclusive license for the Tupperware brand across Latin America.

The acquisition was funded with $250 million in total consideration, consisting of $215 million in cash and $35 million in BeFra shares, on a debt-free, excess-cash-free basis. The deal is expected to be highly accretive to BeFra’s earnings, contributing an estimated $0.58 per share to earnings per share (EPS) and $81 million of EBITDA annually, representing immediate earnings accretion of approximately 40% per share.

The transaction is expected to increase BeFra’s leverage from 1.6x to 1.9x Net Debt/EBITDA, a level the company describes as conservative for a transaction of this size. BeFra has stated that acquisition won't impact dividend policy.

Tupperware Latin America has historically been a profitable business within the global Tupperware organization, supported by over 140 distributors and more than 200,000 independent sales representatives. The region generated approximately $404 million in sales in 2022, prior to Tupperware’s global restructuring and Chapter 11 process. For 2025, sales are projected to be $278 million, indicating potential for revenue recovery.

BeFra plans to maintain the distinct consumer value proposition of each brand while operating them as independent business units. The company has previously demonstrated its ability to drive operational improvements, as seen in its successful renewal of Jafra, which has delivered an 18% revenue increase and a 23% EBITDA compound annual growth rate since its acquisition in 2022.

The acquisition is expected to unlock significant revenue and cost synergies across BeFra’s portfolio, particularly through the integration of Tupperware’s regional footprint with BeFra’s distribution network. Tupperware’s existing presence in Latin America is also expected to support Betterware's home goods expansion.

The deal is subject to customary regulatory approvals and closing conditions, and the BeFra shares issued as part of the transaction are subject to a lock-up period of nine months after the closing.