Clearwater, FL (PRWEB) January 03, 2014
Infusion Brands International, Inc., a leading consumer products company which leverages direct response marketing to build brands, announced that it has signed a memorandum of understanding to merge with As Seen On TV, Inc., (ASTV - OTCBB), enhancing its portfolio of brand assets, entering the multi-billion dollar personal health and wellness market (via ASTV’s eDiets brand) while leveraging the iconic “As Seen On TV” brand and consumer destination AsSeenOnTV.com website. The transaction is anticipated to be an all-stock transaction resulting in a combined public company, which will be owned three-quarters by current Infusion Brands shareholders and one-quarter by existing As Seen On TV, Inc. shareholders. The transaction is expected to close in the first quarter of 2014. To help fund the transaction, Infusion agreed to provide up to $500k capital into ASTV through a Note Purchase Agreement.
"We couldn't be more excited about merging with As Seen on TV," stated Bob DeCecco, CEO of Infusion Brands. "This merger should excite current shareholders as well as attracting new investment capital to help us grow these great brands, leading to an increase in shareholder value."
A household name for decades, As Seen On TV truly compliments Infusion’s strategy of leveraging direct response marketing to build brands. Infusion also intends on using its financial and operational strength to grow the already successful revenue-generating consumer destination AsSeenOnTV.com website. Moreover, this merger further diversifies Infusion's portfolio of brands, allowing it to enter the personal health and wellness category through the addition of the popular eDiets brand.
"Additionally, this merger is perfect timing to leverage Infusion’s recent strategic partnership with Ronco Holdings, Inc., owner of the popular consumer housewares brand founded by Ron Popeil”, added DeCecco. By combining renowned brands such as Ronco and eDiets with celebrity brand ambassadors such as Marc Gill, Infusion will truly be in a position to bring a unique value proposition to consumers in the multi-billion dollar health and wellness marketplace.
Infusion Brands, a profitable and growing enterprise with its already successful DualSaw, DualTools, and DOC cleaning brands, will become the foundation for growth and scalability of these combined assets. The combined enterprise will leverage Infusion's infrastructure, management and financial resources, taking advantage of Infusion’s team of domestic and international retail sales distribution, as well as its global live television shopping distribution capabilities.
Once all companies are combined, Infusion Brands will have strong brands in three key consumer product verticals: Hardware (DualSaw & DualTools), Health and Wellness (eDiets) and Home Goods (Ronco & DOC Cleaning). Since Infusion builds brand awareness via direct response marketing, the As Seen On TV brand and AsSeenOnTV.com website are a natural fit in the portfolio, bringing their own additional revenue streams, deal flow, licensing, crowd-sourcing and crowd-funding opportunities.
"Infusion Brands has terrific brands and is known 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 multi-channel 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 crowd-funding site traffic," said Mr. Pruett.
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 http://www.infusionbrands.com.
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 http://www.AsSeenOnTV.com or follow ASTV online at Facebook.com/OfficialAsSeenOnTV, @AsSeenOnTV on Twitter and Pinterest.com/AsSeenOnTVHQ.
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. 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.