MFC Development Corp., a direct response marketing, distribution and branding company, will acquire the consumer products division of Adsouth Partners Inc. The value of the stock-and-cash purchase, which varies based on the amount of liability the division holds, is currently estimated at $2 million. The transaction is expected to close on July 31.
Under the terms of the deal, MFC will take control of the retail distribution and product brands division, which includes 15 brands, such as the DermaFresh and Mitsu brands, as well as the marketing and distribution rights to E70, Simon Solutions and Hercules Hook.
At the close of the deal, Jouhn Cammarano, the former president and CEO of Adsouth, is expected to Join MFC and assist with the transition of the creative and support staff.
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