Dechert Advises Party Products, LLC on Sale of Tupperware Brand Operating Assets in Latin America

Dechert advised Party Products, LLC on the sale of 100% of the Tupperware brand's operating assets in Latin America, primarily in Mexico and Brazil, to Betterware de México, S.A.P.I. de C.V. (BeFra).

The transaction supports BeFra's strategy of building a leading direct-selling platform in Latin America by bringing together the Betterware, Jafra, and Tupperware brands under a scalable commercial growth model.

BeFra, the parent company of Betterware and Jafra, now has a perpetual, royalty-free, and exclusive license to the "Tupperware" brand for the entire Latin America region. The closing follows the receipt of all required regulatory approvals, including clearance from the Comisión Nacional Antimonopolio (formerly COFECE), Mexico's antitrust authority, approval of BeFra's shareholders, and the satisfaction of all other customary closing conditions. Consistent with the terms announced on January 19, 2026, BeFra acquired the business for total consideration of US$250 million on a debt-free, excess-cash-free basis, comprised of US$215 million in cash funded with debt and US$35 million in newly issued BeFra shares. The shares issued to the seller are subject to customary registration rights and a lock-up of up to nine months from the closing date.

The Dechert team that advised Party Products, LLC was jointly led by financial restructuring partner Allan Brilliant and corporate partner David Cosgrove. The broader team included tax partner Kevin Zaragoza, corporate associates Matthew Andonian and Seth Worthen; intellectual property partner Thomas Rayski and associate Spencer Joffrion ; global finance partner Soo ah Nah and associates Nelson Nedlin and Anthony Rydelek; and corporate and securities partner Anna Tomczyk.