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Thane Direct CEO Amir Tukulj Leads Management Team Buyout Of Thane Direct
Move Designed To Forge New Era Of Marketplace Growth And Global Expansion For Global Direct Marketer
TORONTO — A new company established by Thane Direct Chief Executive Officer Amir Tukulj and select senior members of Thane’s management team has reached a binding purchase agreement, with typical closing conditions for a transaction of this nature, to acquire the business of leading global direct response consumer product developer/manufacturer/marketer Thane Direct.
The transaction, which is expected to close by the end of the calendar year 2015, will be financed by Thane management together with a syndicate of Canadian financial institutions. While Thane’s new owners will begin a strategic restructuring of its corporate holdings worldwide immediately upon closing of the transaction, the move is expected to have minimal impact on any of its operations or workforce.
Following the transaction, Thane Direct will become a Canadian company with offices in Canada, the USA, Europe, Australia and Mexico. Thane’s Toronto headquarters will continue to serve as the global company’s product development and marketing hub.
Thane CEO Tukulj is well-regarded industry-wide for his pioneering efforts in creating and building direct response television into a global enterprise. Today, Thane’s direct response television and digital distribution network spans across the world’s most critical markets. The company has earned numerous awards for its expansive array of proprietary products which encompass such perennial direct response and retail brands as H20 mop line and the FlavorWave Oven as well as premiering products internationally such as the Back Bubble for back pain, the Infusion Grill and the FlavorChef additions to the popular FlavorStone kitchenware line and the Men’s Waist Training Belt & Perfect Fit Shirt additions to the acclaimed Slim ‘N Lift functional wear.
“After working long and hard on our goal of effecting a management buyout, I am excited to join with Thane’s senior management to begin a new chapter in our Company’s three-decade story of unparalleled success. As a direct result of the buyout, Thane will be positioned more strongly than ever for long-term expansion of our global product development, production and distribution businesses. I am proud to salute our outstanding senior management team for their significant efforts in helping to realize our long-sought objective,” said Tukulj.
About Thane Direct:
Headquartered in Toronto, Thane Direct is a global leader in the multi-channel direct marketing of consumer products in the fitness, health & beauty and housewares product categories. Thane Direct's distribution network spans the globe in well over 100 countries across the world’s most prominent markets, as well as corporate subsidiaries, strategic partners and distributors. All marketing channels are maximized which include direct response TV, home shopping networks, catalogues, retail, print advertising, credit card inserts, and the Internet. Thane develops and acquires products and distribution rights, arranges low-cost manufacturing, and then markets its products through its various distribution channels.
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CONTACT: SSA Public Relations