Mary Kay Cosmetics is selling certain assets.

The Dallas-based firm said it has entered into contracts to sell its branch distribution centers in Los Angeles, Chicago, Atlanta and South Plainfield, N.J., for $15.6 million. Mary Kay said it will lease back the facilities from the buyers after the sales are completed in July and August. The names of the buyers weren't disclosed. The properties, in prime commercial locations, are being used as product distribution centers, and continued ownership "represents an under-utilization of corporate resources," a company statement said.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
54°