Lender Group to Buy Iconic Brand and Invest Upon Close of the Transaction Closing Intended by End of October

Orlando, FL — Tupperware Brands Corporation has reached an agreement in with a group of its secured lenders, including Stonehill Capital Management Partners and Alden Global Capital. The deal is expected to close late this month.

After years of struggling with an over-leveraged balance sheet and outdated operating model, the transaction would mark a new day for the iconic brand. The transaction is contemplated to be structured as a private sale of all intellectual property needed to create and market Tupperware’s brand and award-winning products, plus operating assets in the United States and other foreign subsidiaries.

Tupperware’s Board of Directors hired President and Chief Executive Officer, Laurie Ann Goldman, in October 2023 to reinvent its go-to-market strategy for its valued independent sales consultants, retailers and consumers, and build a best-in-class leadership team.

“Tupperware is considered the inventor of the party selling model and made no-leak food conservation products famous. Over the last year, we created a new strategy and operating approach that is digital-first, technology-led and asset-light, and preserved a global footprint for the Company,” said Goldman. “We’ve made tremendous progress and are delighted this group of forward-thinking investors share our vision and will partner with us to grow.”

It is envisioned that The New Tupperware Company will be rebuilt with a start-up mentality using an agile methodology in dynamic phases. The initial focus will be on global core markets including the United States, Canada, Mexico, Brazil, China, Korea, India and Malaysia, and the new company intends to follow on with European and additional Asian markets.

With its robust portfolio of award-winning, innovative products that consumers love and trust, the new company will continue to support entrepreneurship and a more sustainable lifestyle. Customers will be able to continue purchasing Tupperware products via independent Tupperware sales consultants, Tupperware ecommerce sites and retail partners in the global core markets.

“We look forward to working with Tupperware’s talented leadership team to execute on the go-forward strategy for this iconic brand,” said a representative from the Lender Group.

With the announcement of the proposed transaction, markets outside of the global core markets with heavy liabilities will wind down operationally. Goldman concluded, “Winding down parts of the Company will be a difficult but necessary decision to protect the future of the Tupperware brand. I want to thank all the wonderful people that will always be a part of the Tupperware family. Change and disruption are challenging, but at times, needed to move forward.”