Lender group completes acquisition of Tupperware's assets. Party Products LLC — made up of Stonehill Capital Management and Alden Global Capital — has acquired the company's brand name and other assets.
In November 2024, the Tupperware brand name was acquired by Party Products LLC, who will allow for Tupperware's operations to continue.
The Home Parties were an immediate success and in 1958 Earl Tupper was able to sell the company for $16 million. Tupperware spread to England and thence to Europe in the 1960s.
Lender groups Stonehill Capital Management Partners and Alden Global Capital will be involved in the private purchase of all Tupperware's intellectual property, including the Tupperware brand and its portfolio of products, in addition to operating assets in the U.S and those owned by foreign subsidiaries.
After a marked decline just before the pandemic, sales revenue and the share price briefly rose as people turned to Tupperware boxes to store food during lockdowns. However, as the world started opening up, people turned away from Tupperware and sales fell, as did the stock.
While there is no set timeframe for replacing plastic food containers, experts say they should be tossed out when they show visible wear, chips, cracks, or signs of stains and odors. In place of plastic containers, experts recommend opting for glass or stainless steel instead.
Tupperware announced this week that it will close its last remaining U.S. factory in early 2025, laying off 148 employees. Production will shift from South Carolina to Mexico, where the company already has a presence.
Tupperware® brand products are warranted by Tupperware against chipping, cracking, breaking or peeling under normal non-commercial use for the lifetime of the product. Please contact our Customer Care at 1-800-TUPPERWARE (1-800-887-7379) for assistance or through chat at Tupperware.com.
The transaction is intended to close by the end of October 2024, subject to approval by the United States Bankruptcy Court for the District of Delaware and other customary closing conditions. Following closing, The New Tupperware Company will be privately held under the supportive ownership of the Lender Group.
Tupperware® Independent Consultants earn 25% commission on the sale of most products, plus they have several opportunities to earn additional bonuses and awards through hard work and personal effort.
There's good money in the airtight plastic container game. Mr. Tupper died in 1983 in Costa Rica, was placed in the biggest piece of Tupperware ever made, burp sealed, and buried. But what a legacy he left behind.
Brownie Wise was a self-made woman who revolutionized marketing tactics and had a knack for motivating others. She introduced the now popular household item, Tupperware, to the market. A pioneering businesswoman when there were not many women in business, her career serves as an inspiration for generations of women.
1940s. Tupperware products are first debuted by chemist Earl S. Tupper in Massachusetts, including the still-iconic Wonderlier® Bowl.
Tupperware manufactures its products globally, including in the USA. They also manufacture in China, Brazil, Belgium, France, Greece, India, Japan, Korea, Mexico, Portugal, and South Africa.
Largest shareholders include FNDA - Schwab Fundamental U.S. Small Company Index ETF, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, PRFZ - Invesco FTSE RAFI US 1500 Small-Mid ETF, SFSNX - Schwab Fundamental US Small Company Index Fund Institutional Shares, VEXMX - Vanguard Extended Market Index Fund ...
The iconic plastic food container company will shift all of its manufacturing operations to Mexico, where many of its products sold in the US and Canada are already made.
Old Tupperware, especially those over a decade old, might contain hazardous chemicals like cadmium, lead, and arsenic. These can leach into your food, posing significant health risks. Vintage Tupperware products are particularly concerning due to the potential leaching of additional harmful substances.
Tupperware containers will now be available at Target, in a major shift for the 76-year-old brand.
Tupperware is known for its plastic food storage containers. However, it filed for bankruptcy in September due to its falling popularity and financial troubles. The company's closure will affect the jobs of 145 employees at the Orlando facility. The layoffs will be effective just before the new year on Dec.
The answer to the question to, “How long do Tupperware containers last?” is they do last a very long time. That's a good thing and a bad thing. If they are over about 10 years old, it's probably time to stop using them for food.
The Life Time Guarantee
most Tupperware products are guaranteed to perform under domestic use for the life time of the product. the only products not covered by the life time guarantee are those few items which come under quality guarantee with the 'Q' symbol.
Tupperware, the brand renowned for its plastic food containers, is closing its last US manufacturing plant in Hemingway, South Carolina. The 78-year-old company plans to relocate production to Lerma, Mexico to capitalize on cheaper labor costs.