08:52 AM EST, 02/21/2025 (MT Newswires) -- Dorel Industries (DII-B.TO, DII-A.TO), which lost 5.8% yesterday, on Friday said it will receive US$30 million from the sale-leaseback of its factory and warehousing facility in Columbus, Indiana.

A statement noted that about US$8 million from the proceeds will be used to pay down debt, with the balance funding Dorel's operations. The lease has an initial term of 10 years and may be renewed for two more terms of five years each. The initial annual rent of US$2.9 million is subject to annual increases.

This transaction is part of Dorel's initiative to finance its Juvenile segment and turnaround its Home segment, first announced last month.

Dorel manufactures juvenile and home furniture products.