Merchant House International Completes Asset Sales at Closed US Textile Factory

MT Newswires Live

Jun 20, 2025

Merchant House International (ASX:MHI) said following extensive negotiation with potential purchasers, it has sold the factory and land at its now-closed American Merchant textile factory to Leclerc Foods Virginia for net proceeds of $8 million, according to a Friday Australian bourse filing.

The company has received full settlement funds, per the filing.

The book value of the factory and land at March 31 was AU$8.8 million and based on sale proceeds of about AU$12.3 million, a profit of about AU$3.5 million will be realised from the sale, the filing added.

The company also sold a condominium with a book value of AU$74,667 for AU$150,641, realising a profit of AU$75,974.

The company has received full payment of $4 million from a previously disclosed sale of equipment from the factory.

The transactions conclude the sale of all of the company's assets related to the factory.

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