Tupperware Sells Three Real-estate Assets Of New Zealand Arm For About $14 Mln

Tupperware Brands Corporation (TUP), a company focused on kitchen and household products, said Wednesday that it sold real estate assets associated with its Nutrimetics beauty business in New Zealand for NZ$20.5 million or about $14 million.

The sale, comprising two warehouses and a manufacturing facility, was in line with the company's turnaround plan strategy of divesting non-core assets, Tupperware said in a statement.

Miguel Fernandez, Chief Executive Officer of Tupperware Brands, commented: "Our Turnaround Plan commitment to focus on our core business remains steadfast, and the decision to sell these assets in New Zealand demonstrates that commitment, while also unlocking capital that can be deployed in order to fuel our transformation."

In addition, the Grafton-headquartered company also announced the lease-back of its real estate properties related to its New Zealand division.

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