Merger Alert: The Foschini Group Limited And Tapestry Home Brands (Pty) Ltd
Qaphela
Lesi Isaziso Sokuhlanganisa esilandelayo senzelwe izinjongo zolwazi kuphela futhi asibophezeli ku-Competition Tribunal nanoma yiliphi ilungu le-Tribunal.
Lead Text
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.
Uhlobo lwendaba
Large merger
Amaqembu ahilelekile
The Foschini Group Limited And Tapestry Home Brands (Pty) Ltd
Isinqumo Senkantolo
Approved with conditions
Kukhishwe ngu
Gillian de Gouveia, Communications Manager
On behalf of the Competition Tribunal of South Africa
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.
