TORONTO Thane Direct CEO Amir Tukulj and additional members of the company’s management team recently reached a binding purchase agreement to acquire the business of the global direct response consumer product developer, manufacturer, and marketer. The buyout was expected to close by Jan. 1, 2016, financed by Thane management and several Canadian financial institutions.
Thane’s new owners will undertake a strategic restructuring of its corporate holdings worldwide upon closing the transaction, with minimal impact expected on its operations or workforce. Thane Direct will be a Canadian company with offices in Canada, the United States, Mexico, Europe, and Australia. Thane’s Toronto headquarters will continue to be its global product development and marketing hub.
Tukulj is well-regarded for his pioneering efforts in building DRTV into a global enterprise. Thane’s digital distribution network spans the world’s most critical markets, and it has built an extensive array of brands such as the H2O mop, FlavorStone kitchenware, and Slim ’N Lift shapewear.
“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,” Takulj says. “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.”