Merger Alert: The Foschini Group Limited And Tapestry Home Brands (Pty) Ltd

The Tribunal has conditionally approved the large merger whereby The Foschini Group Limited (“TFG”) intends to acquire Tapestry Home Brands (Pty) Ltd (“Tapestry”). Upon the implementation of the proposed transaction, TFG will exercise sole control over Tapestry.

The TFG Group is an independent chain-store group with a diverse portfolio of fashion retail businesses offering clothing, jewellery, cell phones, accessories, cosmetics, luggage, sporting apparel and equipment, homeware and furniture.

The Tapestry Group is a manufacturer and retailer of household textiles, furniture and bed sets and mattresses. The Tapestry Group also offers a portfolio of popular home furnishing consumer brands.

A full press release will be issued in due course.

Issued by:

Gillian de Gouveia, Communications Officer
On behalf of the Competition Tribunal of South Africa
Cell: +27 (0) 82 410 1195
E-Mail: GillianD@comptrib.co.za
Twitter: @comptrib