Freedom: Betterware Could Add $25 Million in Revenue As Early As Q2

Betterware de México (BeFra) has completed the acquisition of Tupperware’s Latin American business, enabling the company to gain financial benefits from the deal earlier than expected. According to Freedom analysts, the acquired assets are projected to contribute approximately $25 million in incremental revenue and around $7 million in adjusted EBITDA as early as the Q2 FY2026.

Freedom maintains its Buy recommendation on Betterware shares, with a target price of $31.

BeFra acquired 100% of Tupperware’s operational assets in Latin America, primarily in Mexico and Brazil, and secured a perpetual, royalty-free, exclusive license to use the Tupperware brand in the region. The total transaction value amounted to $250 million, comprising $215 million in cash and $35 million in newly issued company shares.

Freedom considers the news as moderately positive. Previously, analysts had anticipated Tupperware’s contribution to begin reflecting in financial results only from the Q3; however, the deal’s closure on June 2 allows for partial results to be included in the Q2 reporting.

The acquired business demonstrates strong financial performance. In FY2025, Tupperware LatAm generated $270 million in revenue and $82 million in adjusted EBITDA. For the Q1 FY2026, these figures stood at $75 million and $21 million, respectively.

According to Freedom analysts, the transaction strengthens BeFra’s position in its core markets of Mexico and Brazil and unlocks potential for both revenue and cost synergies. The company is building a multi-brand direct-selling platform, integrating Betterware, Jafra, and Tupperware under a unified corporate structure.

Investor focus will now shift to the integration of Tupperware’s operations, implementation of expected synergies, and a potential upward revision of the financial outlook for FY2026.

Not an individual investment recommendation.