Benzinga | Dec 15, 2021 09:43AM EST

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

* Tupperware Brands Corp (NYSE: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.