MFC Development Corp., New Rochelle, NY, has completed the acquisition of Worldwide Excellence Inc., a direct marketer of health, beauty, fitness and self-help products based in Los Angeles.
MFC has acquired 100% of the outstanding shares of the common stock of Worldwide in exchange for shares of MFC common stock. Worldwide raised $1.5 million through private placement investors to purchase MFC’s common stock.
Jeffrey S. Edell has been named president and co-CEO of MFC. Nancy Duitch, co-founder of Worldwide has been appointed chief marketing officer and c-CEO. Both Edell and Duitch have been appointed to MFC’s board of directors
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