VOXX International Sells Domestic Accessory Business, Jamo and Energy Brands For ~$28M
Portfolio Pulse from Benzinga Newsdesk
VOXX International has sold its domestic accessory business, along with the Jamo and Energy brands, for approximately $28 million. This move is part of VOXX's strategy to streamline its operations and focus on core business areas.
September 05, 2024 | 12:33 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
VOXX International has divested its domestic accessory business and the Jamo and Energy brands for around $28 million. This strategic move is aimed at focusing on core business areas and could positively impact the company's financials by reducing operational complexity.
The sale of non-core assets for $28 million allows VOXX to streamline its operations and focus on its main business areas. This could lead to improved financial performance and operational efficiency, positively impacting the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100