Direct Selling Mergers and Acquisitions: Who Is Buying Whom
Direct selling mergers and acquisitions have picked up as companies consolidate brands, rescue struggling names or sell non-core units. Recent deals include Zinzino’s all-share purchase of It Works!, BeFra’s takeover of Tupperware’s Latin American operations, and the sale of Avon International.
Key facts
- Zinzino and It Works! (Jan 26, 2026): all-share transaction, fixed price USD 30 million
- BeFra and Tupperware LatAm: announced Jan 20, 2026; completed by June 3, 2026
- Natura and Avon International: sale to Regent LP finalized, reported Jan 19, 2026
- Tocara and Touchstone Crystal: announced April 2026
- What it means: check how a deal changes plan rules, products and your contract
Zinzino Acquires It Works!
On January 26, 2026, Swedish-listed Zinzino announced it had combined with the US-based direct seller It Works! in an all-share transaction. Zinzino acquired the operational assets of It Works!’s U.S. business, including inventory, distributor agreements, customer agreements and IP, plus 100% of the shares in It Works! Marketing International UC, an Irish company. The fixed purchase price was USD 30 million, paid through a directed issue of 1,843,840 Zinzino B-shares. See our profile of It Works! and its business opportunity for background.
Zinzino had also been acquiring smaller sellers’ customer bases: Bodē Pro in September 2025 (about $7 million in annual turnover) and Sanki in November 2025.
Avon and Natura: From Chapter 11 to a New Owner
Avon Products, Inc., the non-operating U.S. holding company of the Avon brand, filed for Chapter 11 on August 12, 2024, citing debt and talc-related legal liabilities. Parent Natura &Co agreed to buy the Avon operations outside the U.S. with a $125 million credit bid, and the bankruptcy court approved the settlement in December 2024. In August 2025 the court said it would confirm Avon’s plan, subject to revisions. In January 2026 Direct Selling News reported Natura had finalized the sale of Avon International to the US investment firm Regent LP while keeping Avon’s Latin American operations. The Avon brand’s U.S. consultants are covered separately; see our Mary Kay vs Avon comparison.
Tupperware Latin America and Other Asset Deals
BeFra, also known as Betterware de Mexico, announced on January 20, 2026 a definitive agreement to acquire Tupperware’s Latin American operating assets, mainly in Mexico and Brazil, with a perpetual royalty-free exclusive license for the brand across the region. Direct Selling News reported on June 3, 2026 that BeFra completed the acquisition. Elsewhere, Shaklee acquired substantially all of Modere’s business in May 2025, and Swarovski moved its U.S. direct-selling arm Touchstone Crystal to Tocara Group in April 2026.
Why Consolidation Happens
Direct sellers face rising costs, a shrinking participant base in some categories and pressure to digitize. Buying an established network can add sellers and customers faster than organic growth, as in Zinzino’s strategy, while struggling brands sometimes sell assets to shed debt. Scale also matters in the DSN rankings; see the top 10 MLM companies and MLM companies closing in 2026.
What a Deal Means for Distributors
After an acquisition, check whether compensation plan rules, rank requirements, product lines, or customer terms change, and whether your agreement is assigned to the new owner. If you are unhappy with new terms, review the company’s buyback policy; our guide to MLM buyback policies explains the usual 90% rule. For more news, follow our network marketing news hub.
Key Takeaways
- Zinzino acquired It Works! in a USD 30M all-share deal announced Jan 26, 2026.
- BeFra completed its Tupperware Latin America acquisition by June 2026.
- Natura finalized the sale of Avon International to Regent LP.
- Check what a deal changes before staying or leaving.
Frequently Asked Questions
Who bought It Works!?
Zinzino announced on January 26, 2026 that it combined with It Works! in an all-share transaction with a fixed purchase price of USD 30 million, acquiring its U.S. operating assets and Irish subsidiary.
Who owns Avon now?
Natura &Co finalized the sale of Avon International to Regent LP, per Direct Selling News on January 19, 2026. Natura kept Avon’s Latin American operations.
What happened to Tupperware in Latin America?
BeFra agreed in January 2026 to acquire Tupperware’s Latin American operations and brand license, and DSN reported completion on June 3, 2026.
Do distributors lose anything in an acquisition?
It depends on the deal. Review any notices on plan changes and your buyback rights, as terms can change after a transaction.
Sources
- Zinzino press release: merger with It Works! (Jan 26, 2026)
- Direct Selling News: BeFra completes Tupperware LatAm acquisition
- Direct Selling News: Natura finalizes sale of Avon International
- Weil: Avon Chapter 11 plan confirmation decision
QastMe does not endorse any company. Information is for education only and is not financial or legal advice. Earnings in direct selling vary widely, and most participants earn little or no money. Review each company’s income disclosure statement before deciding.
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