Merger Alert: The Foschini Group Limited And Tapestry Home Brands (Pty) Ltd
Notice
The following Merger Alert is for information purposes only and is not binding on the Competition Tribunal or any member of the 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.
Type of matter
Large merger
Parties involved
The Foschini Group Limited And Tapestry Home Brands (Pty) Ltd
Tribunal Decision
Approved with conditions
Issued By
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.
