Company divests from subsidiary brand
G lobe Union divested from its subsidiary Home Boutique to Singular Point Ltd, a retailer of high-end kitchen and bathroom equipment, in 2021. The move was made as the company continues to invest in and grow its core North American business. As a result of the divestiture, the company announced that it would be able to better focus on its core products, generating an estimated $10.0 million in profit from the sale of the subsidiary.
New Activity|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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