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Clarus Corporation Completes Sale of PIEPS Snow Safety Brand
Globenewswire· 2025-07-14 12:30
Core Viewpoint - Clarus Corporation has completed the sale of PIEPS and JetForce avalanche pack intellectual property for €7.8 million (approximately $9.1 million), indicating a strategic move to simplify its business and strengthen its balance sheet [1][2]. Company Overview - Clarus Corporation is headquartered in Salt Lake City, Utah, and is a global leader in designing and developing equipment and lifestyle products for outdoor enthusiasts [2]. - The company aims to provide safe, simple, effective, and aesthetically pleasing products to enhance outdoor experiences, with a focus on continuous product innovation [2]. Strategic Focus - The divestiture of PIEPS is part of a broader strategy to rationalize product categories and focus on long-term growth opportunities [2].
Greif, Inc. Enters Into Definitive Agreement to Sell Containerboard Business for $1.8 Billion
Globenewswire· 2025-07-01 11:00
Core Viewpoint - Greif, Inc. has announced the divestiture of its Containerboard business for $1.8 billion to Packaging Corporation of America, which aligns with its strategy to enhance capital efficiency and focus on growth priorities [2][4]. Financial Impact - The cash proceeds from the divestiture will be allocated to debt repayment, resulting in a pro-forma leverage ratio below 2.0x after closing, with further reductions expected from the planned divestiture of Greif's timberland business [3]. - This transaction is expected to unlock value-creation opportunities and enhance capital utilization, reducing recurring capital needs [8]. Strategic Rationale - The sale is part of Greif's "Build to Last" strategy, aimed at sharpening the company's portfolio and advancing growth priorities [4]. - The remaining material solutions will maintain leadership positions to drive margin expansion and cash flow generation [4]. Conference Call - Greif will host an investor call on July 1, 2025, to discuss the rationale for the divestment and its impact on proforma business operations [5].
ESCO Announces Divestiture of VACCO Industries
Globenewswire· 2025-05-20 20:15
Core Viewpoint - ESCO Technologies Inc. has entered into a definitive agreement to sell VACCO Industries to RBC Bearings Incorporated for expected gross cash proceeds of $310 million, aligning with its long-term strategy to focus on high-growth end-markets [1][2][3] Group 1: Transaction Details - The transaction is subject to customary regulatory approvals and is expected to yield a sizable book gain, with net proceeds planned for debt reduction related to a previous acquisition [2] - VACCO Industries has been part of ESCO since its formation in 1990 and is recognized as a key supplier of mission-critical solutions [3] Group 2: Strategic Implications - The divestiture supports ESCO's strategy to concentrate on core high-growth markets, enhancing its portfolio focus [3] - The CEO of ESCO expressed confidence in the future of VACCO under RBC Bearings, indicating a positive outlook for the company post-transaction [3] Group 3: Company Overview - ESCO Technologies is a global provider of engineered products and solutions across diverse end-markets, including aviation, Navy, space, and industrial sectors [4] - The company specializes in manufacturing filtration and fluid control products, advanced composites, and power management solutions, and is a leader in RF test and measurement products [4]
Eightco Announces the Completion of the sale of Fergueson Containers, Inc.
Newsfilter· 2025-04-11 13:00
Core Insights - Eightco Holdings Inc. has completed the sale of its subsidiary, Ferguson Containers, Inc., to Reichard Corrugated Products, LLC, which is managed by the existing leadership of Ferguson Containers [1][2] - The divestiture is part of Eightco's strategy to concentrate on its core business, Forever 8, and aims to enhance long-term growth by addressing the demand for inventory and cash flow management solutions [2][3] - Eightco is committed to the growth of Forever 8 Fund, LLC, which serves as an inventory capital and management platform for e-commerce sellers, and is actively pursuing strategic acquisitions to expand its technology solutions within the e-commerce ecosystem [3]