What's Happening?
Nextil, a Spanish textile multinational, has sold its production facilities in northern Portugal for 4.4 million euros as part of a sale and leaseback agreement. This transaction allows Nextil to continue operations at the same sites as a tenant, aligning with its strategic plan to optimize its business model. The sale is part of Nextil's 2024-2026 Strategic Plan, aimed at enhancing profitability and sustainability.
Why It's Important?
The sale of production facilities marks a significant step in Nextil's industrial and financial transformation. By freeing up capital through this transaction, Nextil can reinvest in its acquisition strategy, particularly in the premium and luxury fashion segment. This move is expected to strengthen Nextil's position as a strategic supplier to high-end European brands, potentially boosting its revenue and market presence.
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