GUADALAJARA, Mexico,
April 29,
2024 /PRNewswire/ -- Betterware de México,
S.A.P.I. de C.V. (Nasdaq: BWMX) ("BeFra" or the "Company"), BeFra
Group clarifies the Company's agreement to sell the Jafra México
office building in Mexico City,
following a news article which appeared in Bloomberg en
Línea on April 25, 2024 entitled
"Betterware cancels purchase of Jafra headquarters in
Mexico City."
Per the Company's first quarter 2024 earnings press release,
also dated April 25, 2024, Jafra
México reached an agreement to sell the property, the net proceeds
of which will be received over the next three years and used to
reduce the Group's outstanding debt. It is relevant to note that
the office building being sold no longer meets the Company's
needs.
As was also communicated within the Company's earnings press
release, the agreed upon amount for the property sale was Ps. 385.7
million. Jafra México will vacate current premises in June 2024 and relocate its headquarters to a
leased office building. This new location features a flexible
design, integrated technology, is energy efficient, and focuses on
employee well-being; all of which are essential for maintaining
competitiveness and attracting to top talent. The transaction is
consistent with the selling of non-strategic assets as part of the
Jafra México acquisition strategy.
About Betterware
Founded in 1995, Betterware de Mexico is the leading direct-to-consumer
company in Mexico focused on
offering innovative products that solve specific needs related to
household organization, practicality, space-saving, and hygiene.
Through the acquisition of JAFRA on April 7,
2022, the Company now offers a leading brand of
direct-to-consumer in the Beauty market in Mexico and the
United States where it offers Fragrances, Color &
Cosmetics, Skin Care, and Toiletries. The combined company
possesses an asset-light business model with low capital
expenditure requirements and a track record of strong
profitability, double digit rates of revenue growth and free cash
flow generation. Today, the Company distributes its products in
Mexico, and with its recent
acquisition, it now has gained presence in the United States through JAFRA's portfolio of
products.
Cautionary Statement Regarding Forward-Looking
Statements
Matters discussed in this press release may constitute
forward-looking statements. Forward- looking statements include
statements concerning plans, objectives, goals, strategies, future
events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts.
The words "believe," "anticipate," "intends," "estimate,"
"potential," "may," "should," "expect" "pending" and similar
expressions identify forward- looking statements. The
forward-looking statements in this press release are based upon
various assumptions. Although we believe that these assumptions
were reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control, we
cannot assure you that we will achieve or accomplish these
expectations.
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SOURCE Betterware de México, S.A.P.I. de C.V.
