'The sale-leaseback is a part of our global strategy to sell non-core assets, which has been mentioned in past quarterly earnings calls.' Moneyweb Tupperware
Global food container and plasticware company Tupperware has placed its industrial property and head office in Brakpan, Gauteng, on the market for an undisclosed amount. This is as the group looks to dispose of its non-core assets amid liquidity concerns. Tupperware’s 41 585m2 South African base was listed for sale on the Naspers-owned property search engine Property24 in July, months after reports surfaced in April that the American company was facing financial hardship.
To free up some cash, Tupperware said it would review its estate portfolio to find “property available for potential dispositions or sale-leaseback transactions” and that the group was considering other “right-sizing efforts, monetization of fixed assets, cash management, and marketing and channel optimization, to preserve or deliver additional liquidity”.
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