As Seen On TV, Inc. Executes Memorandum of Understanding to Acquire Infusion Brands International, Inc.
December 23 2013 - 9:43AM
Marketwired
As Seen On TV, Inc. Executes Memorandum of Understanding to Acquire
Infusion Brands International, Inc.
Combination Unites Popular Brands As Seen On TV, eDiets and
"Dual" Under Seasoned Leadership Team
CLEARWATER, FL--(Marketwired - Dec 23, 2013) - As Seen On TV,
Inc. (OTCQB: ASTV), a leading multi-platform brand marketing
company and online shopping destination, today announced that it
has signed a memorandum of understanding to acquire Infusion Brands
International, Inc., the marketer behind the globally renowned
"Dual" brand and strategic partner of Ronco Holdings. The
transaction is anticipated to be an all-stock transaction resulting
in pro-forma ownership of one-quarter As Seen On TV, Inc.
shareholders to three-quarters Infusion Brands shareholders. The
transaction is expected to close in the first quarter of 2014.
The combined companies will be based in Clearwater, FL, and will
feature a powerful portfolio of revenue generating direct response
brands including AsSeenOnTV.com, eDiets, DualSaw, Dual Tools and
D.O.C. cleaning. Similar to As Seen on TV, Infusion Brands has
successfully marketed brands in all channels of distribution,
driving retail sales through direct response marketing initiatives
as well as live television shopping. Infusion Brands has expanded
its distribution both domestically and internationally such as
through global live shopping channels QVC (US, Italy, UK), HSN
(US), ShopNBC (US), The Shopping Channel (Canada), HSE24 (Germany),
and IdealWorld (UK). Moreover, Infusion Brands has also expanded
its own global wholesale and retail distribution network that will
be leveraged by the combined entities.
Additionally, Infusion Brands has a strategic partner with Ronco
Holdings, Inc., owner of the popular consumer housewares brand
founded by Ron Popeil. Ronco announced last week that well-known
television pitchman Marc Gill will be its new brand ambassador
beginning with airings on HSN as early as February 2014. Ronco's
strategic partnership with Mr. Gill and Infusion Brands will
continue with the As Seen on TV acquisition.
"Infusion Brands has terrific brands and is renowned for its
breakthrough design and innovation heritage," said Ronald C.
Pruett, Jr., CEO and President of As Seen On TV, Inc. "This is a
significant step for As Seen On TV and our multichannel
distribution platform. The new brands and distribution
opportunities, including global retail, should dramatically
increase the As Seen on TV inventor licensing opportunities along
with our online ecommerce and crowdfunding site traffic," said Mr.
Pruett.
"We couldn't be more excited about the endless growth
opportunities for these two companies and our respective brands and
partners around the world," stated Bob DeCecco, CEO and Director of
Infusion Brands. "By consolidating our brand assets, management and
revenues, we immediately accelerate our ability to create more
awareness for our brands while monetizing these combined assets. I
look forward to working alongside Ron and our respective management
teams as we continue to create a truly exciting and innovative
consumer products company." Mr. DeCecco will become the CEO of the
combined entities upon closing of the merger.
About As Seen On TV As Seen On TV, Inc. (OTCQB: ASTV) is the
leading multichannel distributor of As Seen On TV products. The
company, founded by principal architect of the direct response
industry and original shark from ABC's Shark Tank Kevin
Harrington, serves up fun for engaged consumers worldwide.
Customers can find 1,500 products from As Seen on TV in the areas
of Household, Kitchen, Outdoor, Health & Beauty, Fitness,
Clothing, Electronics, Toys, Novelty, Pets, DVDs, and Food.
Celebrities and industry experts often endorse As Seen On TV
products for their inventive nature and utility. For more
information, please visit www.AsSeenOnTV.com or follow ASTV online
at Facebook.com/OfficialAsSeenOnTV, @AsSeenOnTV on Twitter and
Pinterest.com/AsSeenOnTVHQ.
About Infusion Brands International, Inc. Infusion Brands
International, Inc. is a consumer products company that leverages
direct response channels to satisfy unmet market demands and solve
everyday problems, with an array of innovative consumer products
that have potential to disrupt their categories with significant
competitive advantages, features and benefits. With physical
offices in North America, Europe and Asia, Infusion Brands has
worldwide reach and capability. For more information, visit
www.infusionbrands.com.
Forward-Looking Statements In accordance with the Private
Securities Litigation Reform Act of 1995, we caution you that,
whether or not expressly stated, certain statements made in this
news release that reflect management's expectations regarding
future events and economic performance are forward-looking in
nature and, accordingly, are subject to risks and uncertainties.
This information is qualified in its entirety by cautionary
statements and risk factor disclosures contained in the Company's
Securities and Exchange Commission filings, including the Company's
annual report on Form 10-K for the fiscal year ended March 31,
2013, which are available at www.sec.gov. We caution readers that
certain important factors may have affected and could in the future
affect the Company's actual results and could cause the Company's
actual results for subsequent periods to differ materially from
those expressed in any forward-looking statement made by or on
behalf of the Company.
Contact Information: As Seen On TV, Inc. Ashley Bowden Corporate
Communications Director abowden@astvinc.com 727-451-9519
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