GLAS supports acquisition of the Tupperware brand

GLAS is pleased to see the successful acquisition of the global rights to the Tupperware brand, intellectual property and operations in key markets, in a deal valued at US$23.5m.

A GLAS deal team in New York acted as Administration Agent and Collateral Agent on the transaction, supporting a group of adhoc secured lenders on the purchase of this package which also includes $63 million in debt relief authorised under section 363 by the Delaware Bankruptcy Court.

The investment in Tupperware Brands will see the company focus on their global core markets and aim to protect the continuity of the Tupperware brand.

About Tupperware Brands Corporation

Tupperware Brands Corporation is an American multinational company known for its innovative kitchen and household products, including food storage containers, kitchen gadgets, and cookware.

Founded in 1938 by Earl Tupper, the company has grown to become a global leader in consumer products.

About GLAS

GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.

GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of $490bn of assets under administration on a daily basis. For more information, contact media@glas.agency.