Betterware de México, S.A.P.I. de C.V. Announces Share Purchase by its controlling shareholder Campalier S.A. de C.V.
Betterware de México disclosed that its controlling shareholder, Campalier, S.A. de C.V., acquired 100,000 shares for approximately US$1.3 million, increasing its ownership to 53.6% of the company's shares. Executive Chairman Luis G. Campos stated this purchase reflects confidence in their business model, emphasizing product innovation, business intelligence, and technology as growth pillars. The company believes its share price does not currently reflect its underlying value, leading to a focus on executing strategic initiatives for long-term growth.
- Controlling shareholder increased stake to 53.6%, indicating strong confidence in the company.
- Purchase of shares suggests belief that current stock price undervalues the business.
- Company's strategic focus on product innovation and technology could lead to long-term growth.
- None.
GUADALAJARA, Mexico, June 21, 2022 /PRNewswire/ -- Betterware de México, S.A.P.I. de C.V. (Nasdaq: BWMX) ("Betterware" or the "Company") today announced that its controlling shareholder, Campalier, S.A. de C.V. ("Campalier"), informed the Company that it purchased 100,000 shares of the Company in the open market for approximately US
As a result of such purchase, Campalier now holds approximately
Luis G. Campos, Executive Chairman of the Board of Betterware and controlling shareholder at Campalier, stated: "This purchase reaffirms our confidence in our advantageous business model centered on three growth pillars of product innovation, business intelligence and technology, which has us positioned to deliver on our growth objectives in the future. We believe that the current share price does not reflect the underlying value of our business. We remain focused on the successful execution of our strategic initiatives and believe this has us poised to deliver consistent long-term profitable growth and increased value for our shareholders."
Founded in 1995, Betterware de Mexico is the leading direct-to-consumer company in Mexico focused on creating innovative products that solve specific needs regarding organization, practicality, space saving and hygiene within the household. Betterware's wide product portfolio includes home organization, kitchen, commuting, laundry and cleaning, as well as other categories that include products and solutions for every corner of the household.
The Company has a differentiated two-tier network of distributors and associates that sell their products through twelve catalogues per year. All products are designed by the Company and under Betterware's brand through its different sources of product innovation. The Company's state-of-the-art infrastructure allows it to safely and timely deliver its products to every part of the country, backed by the strategic location of its national distribution center. Today, the Company distributes its products in Mexico and Guatemala, and has plans of additional international expansion.
Supported by its asset light business model and its three strategic pillars of Product Innovation, Business Intelligence and Technology, Betterware has been able to achieve sustainable double-digit growth rates by successfully expanding its household penetration and share of wallet.
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations. These statements are based on various assumptions and on the current expectations of the Company's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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SOURCE Betterware de México, S.A.B. de C.V.
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