Kira Wampler had previously been chief marketing officer for ridesharing app Lyft.
As Seen On TV, which acquired eDiets.com in 2012, ends the year by purchasing Infusion Brands in an all-stock deal. Infusion Brands, whose products include circular saw DualSaw, has a strategic partnership with TV pitchman Ron Popeil’s Ronco Holdings.
Direct marketer and online retailer As Seen On TV Inc. is adding another brand to its portfolio.
As Seen On TV, which sells various celebrity-endorsed gadgets in such categories as household, kitchen, outdoor, health and beauty, fitness, clothing, electronics and toys, is acquiring Infusion Brands International Inc. in an all-stock transaction. The terms of the deal weren’t released.
Infusion Brands sells various items such as DualSaw, a circular saw brand, on TV and through other direct marketing channels. Infusion Brands also has a strategic partnership with Ronco Holdings Inc., a housewares marketing company founded by TV pitchman and promoter Ron Popeil. The deal is expected to close in the first quarter.
As Seen On TV made the acquisition to broaden its base of direct marketing, e-commerce and TV shopping brands, says CEO Ronald C. Pruett, Jr. "Infusion Brands has terrific brands and is renowned for its breakthrough design and innovation heritage," Pruett says. "This is a significant step for As Seen On TV and our multichannel 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 e-commerce and crowd-funding site traffic.”
Infusion Brands CEO Rob DeCecco will become the chief executive of the combined operation once the merger has closed, says As Seen On TV. Pruett will oversee the As Seen On TV portion of the business. “We couldn't be more excited about the endless growth opportunities for these two companies and our respective brands and partners around the world," DeCecco says. "By consolidating our brand assets, management and revenues, we immediately accelerate our ability to create more awareness for our brands while monetizing these combined assets.”
Infusion Brands stopped trading as a public company in August but posted total revenue of about $18 million on a net loss of about $7 million last year, according to its last annual report. In 2012 As Seen On TV posted revenue of about $10.1 million on net income of about $4 million.
As Seen on TV previously has grown by making acquisitions. The company acquired eDiets.com, an online marketer of diet plans, in November 2012 for $13 million.