Waldencast Eyes Major Stake In Its Southeast Asia Distributor To Accelerate Strategic Growth - Waldencast (NASDAQ:WALD)

  • Beauty and wellness company Waldencast PLC WALD said it signed a binding letter of intent to acquire a 60% controlling interest in a newly formed entity to be comprised of the business of its Southeast Asia (SEA) distributor. 
  • The letter of intent is binding upon the SEA distributor, but Waldencast’s obligations are subject to the satisfaction of certain conditions. The financial terms were not disclosed.
  • Waldencast expects the deal to further accelerate its growth in a key strategic region for the company.
  • Waldencast expects to close the transaction in the coming weeks.
  • The company plans to hold its fourth quarter and fiscal year 2022 earnings release and conference call on April 26 against the previously announced date of March 15.
  • Michel Brousset, Founder and CEO, stated: “We are pleased to have reached an agreement to further deepen our presence in a rapidly growing market in partnership with our long-standing distributor in the region.”
  • Price Action: WALD shares closed at $7.95 on Monday.

Image and article originally from www.benzinga.com. Read the original article here.