Business
Acquisition of Sofology
Acquisition of Sofology.
About this update from Dfs Furniture Plc
[{"type":"text","content":"\n \nRNS Number : 8986W DFS Furniture plc 20 November 2017 \n\n20 November 2017\nTHIS STATEMENT CONTAINS INSIDE INFORMATION\nDFS Furniture plc (\"DFS\" or the \"Group\")\nAcquisition of Sofology\n \nFurther to our announcement on 3 August 2017 of the acquisition of Sofology Limited (\"Sofology\") (the \"Acquisition\"), DFS welcomes the announcement from the Competition & Markets Authority (\"CMA\") to allow the Group's acquisition of Sofology to proceed. There were no conditions attached to the CMA decision. The Financial Conduct Authority has also confirmed its clearance of the Acquisition.\nThe Acquisition will complete at the close of business on 30 November 2017.\n \nDFS CEO, Ian Filby commented:\n\"I'm delighted that we are able to complete this deal, which is a big step for DFS towards achieving one of our strategic growth aims of broadening our product and brand appeal. Sofology is a fantastic business that takes great pride in the levels of service and innovation it provides to customers and is a great addition to our family.\nThis is an important and historic moment for both businesses, our investment demonstrates the confidence we have in Sofology and the wider Group. I look forward to working with Jason Tyldesley and his team to continue this success.\" \n \n\n\n\n\nDFS (enquiries via FTI)\n\n\nFTI Consulting\n\n\n\n\nIan Filby (CEO)\n\n\nJonathon Brill\n\n\n\n\nNicola Bancroft (CFO)\n\n\nGeorgina Goodhew\n\n\n\n\nMike Schmidt (Director of Corporate Finance)\n\n\nEleanor Purdon\n\n\n\n\n \n\n\n+44 (0) 20 3727 1000\n\n\n\n\n \n\n\[email protected]\n\n\n\n\n \nOur combined business in numbers (as at 20 November 2017):\nDFS - 109 stores & 5 factories in the UK, 4 stores in Republic of Ireland, 6 stores in Netherlands and 2 stores in Spain\nSofology - 40 stores\nDwell - 33 stores (30 co-located with DFS stores)\nSofa Workshop - 24 stores (9 co-located with DFS stores)\nAnnual Revenues:(Latest publically published figures)\nDFS, Dwell & Sofa Workshop combined revenues - £762.7m\n(Financial year ending 29 July 2017)\nSofology revenues - £143m\n(Financial year ending 31 December 2016)\n \nBackground - DFS\nDFS is the market leading retailer of living room furniture in the United Kingdom. We design, manufacture, sell and deliver to our custome...