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.
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.
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. This audio is auto-generated. Please let us know if you have feedback.
Tupperware containers will now be available at Target, in a major shift for the 76-year-old brand.
On October 22, 2024, Tupperware announced it would sell its business to a group of lenders for $23.5 million in cash and more than $63 million in debt relief, canceling plans for an open-market auction of its assets. This deal aims to provide a fresh start for the company as it transitions to a privately held entity.
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.
LIMITED LIFETIME WARRANTY
In the event of a product's failure to meet the foregoing warranty, Tupperware, at its election, will either replace the affected product with a like or similar product or provide a credit toward future purchases of Tupperware® brand products.
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.
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.
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.
Tupperware Brands's top competitors include Repurpose, Bevi, and Citron. Repurpose produces single-use products in the sustainable goods sector. The company offers items including tableware, drinkware, and kitchen and bath products, designed…
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.
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.
America's favorite storage container brand is officially bidding farewell to the United States. Tupperware has announced that it will shut down its last remaining manufacturing facility in the U.S. and move its operations to Mexico, causing more than 100 workers to lose their jobs.
Tupperware Name Will Survive Bankruptcy. Tupperware Brands Corp. has filed for bankruptcy as it continues to struggle with declining sales. The company shuttered its last remaining plant in the United States earlier this year to no avail. No mater what happens to the company, the name Tupperware will never go away.
ORLANDO, Fla.
– The beloved yet beleaguered Orlando-based Tupperware Brands agreed in principle Tuesday to be bought by a lender group that includes Stonehill Capital Management Partners and Alden Global Capital, according to a news release.
On June 14, 2024, Tupperware announced that it would close its last remaining US manufacturing plant in Hemingway, South Carolina and shift production to their plant in Lerma in Mexico, with the closure to be completed in January 2025.
1940s. Tupperware products are first debuted by chemist Earl S. Tupper in Massachusetts, including the still-iconic Wonderlier® Bowl.
Target Is Selling Fun and Vibrant Tupperware Sets For an Unbeatable Price, and Fans Say They 'Love the Nostalgia' You need this.
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 is revitalizing under new ownership after exiting Chapter 11 bankruptcy protection. The brand has been acquired by a group of lenders for $23.5 million in cash and over $63 million in debt relief. The reorganized company will focus on core global markets including the US, Canada, and India.
Scratches or Cracks: If a container is scratched or cracked, it's time to toss it. Cracks can jeopardize the integrity of the container and foster harmful bacteria. Punctured: Leaking storage containers will not only create a mess, but it will be impossible to safely transport food.
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.
A U.S. bankruptcy judge approved a sale of Tupperware Brands on Tuesday, paving the way for the iconic food storage company to soon exit Chapter 11 protection and continue offering its products while undergoing a hoped-for revitalization.