Why did infomercial star Ron Popeil sell his company Ronco in 2005?”
In August 2005, he sold his company, Ronco, to Fi-Tek VII, a Denver holding company, for $55 million USD. He said he plans to continue serving as the spokesman and inventor, but wants to spend more time with his family. As of 2006, he lives in Beverly Hills, California, with his wife, Robin Popeil and 2 of his 5 daughters. In 2005, Popeil sold the company and stays on as its invention and sales consultant. He continues to the lead promoter for its products — something he has been an expert at for more than 50 years. Popeil lives in California with Robin Angers, his fourth wife, and their two daughters. He has two daughters from his first marriage to Marilyn Greene and another daughter from his third marriage to Lisa Boehne.
Ron Popeil, the storied television pitchman who has peddled vegetable choppers and tabletop rotisserie ovens with the persuasiveness of a modern-day P.T. Barnum, has decided to sell his company–not for $20 million, or $30 million or even $50 million. He has sold out for the amazing price of $56.5 million. But wait, there’s more! The company, Chatsworth-based Ronco Corp., has also gone public and is set to expand. “I ran the business like an entrepreneur, not like a businessman,” Popeil said. “I had about 170 employees, but I never really got involved.
From Wikipedia: In August 2005, Ron Popeil sold his company, Ronco, to Fi-Tek VII, a Denver holding company, for $55 million USD. He said he plans to continue serving as the spokesman and inventor, but wants to spend more time with his family. As of 2006, he lives in Beverly Hills, California, with his wife, Robin Popeil and 2 of his 5 daughters.
