TUPPERWARE BRANDS (TUPBQ) Stock News

Tupperware Brands has reached an agreement with secured lenders including Stonehill Capital Management Partners and Alden Global Capital to form The New Tupperware Company. The transaction involves a private sale of intellectual property and operating assets in the US and other foreign subsidiaries. The new company will focus on global core markets including the US, Canada, Mexico, Brazil, China, Korea, India, and Malaysia, with plans to expand to European and Asian markets. Markets outside the core regions with heavy liabilities will wind down. The transaction is expected to close by October 2024, subject to bankruptcy court approval.