Tupperware Brands Sells Real Estate Related To Beauty Business In New Zealand

by Shivani Kumaresan, Benzinga Staff Writer

December 15, 2021 9:43 AM | 1 min read | Make a Comment

Tupperware Brands Corp TUP reported the sale and lease-back of its real estate assets associated with its Nutrimetics beauty business in New Zealand.
The sale included two warehouses and a manufacturing facility and generated gross proceeds of NZ$20.5 million, or about $14 million.
The company noted the sale aligns with its turnaround plan strategy of divesting non-core assets.
"Our goal remains to restore our iconic brand to sustained growth, and this transaction represents further progress toward that goal," said CEO Miguel Fernandez.
Price Action: TUP shares traded lower by 1.78% at $13.78 on the last check Wednesday.

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