FranklinCovey signs agreement to transition China operations to local ownership
FC•Franklin Covey agreed to sell its China business to Shanghai Hanquan Trading. After closing, the business will operate as a locally owned licensee partner, with Franklin Covey expecting royalties; the deal is not expected to materially affect profitability.
1. China business transition
Franklin Covey Co. signed an agreement to sell its China business to Shanghai Hanquan Trading. Until closing, the China entities will remain owned by Franklin Covey. After closing, the business will operate as a locally owned licensee partner, and Franklin Covey expects to receive royalties.
2. Profitability impact
Franklin Covey said the deal is not expected to materially impact its profitability.
