Thu, 03 Aug 2017 | BUSINESS SALE
The UK furniture retailer DFS has made a deal to acquire Sofology for an initial enterprise value of £25m on a debt-free, cash-free basis that will be payable upon completion.
Sofology is a private equity-backed specialist sofa retailer with a UK network of 37 stores. The company reported revenue of £143m last year, as well as a loss of £2.7m with statutory loss before tax of £8.9m over the same period. This was in part caused by the exchange rates on costs and the disruption following a Sofology rebrand.
Previously, the Business Growth Fund previously invested £10m into Sofology in March 2016 for a minority interest to support the company's UK expansion plans.
Ian Filby, chief executive of the Doncaster-headquartered DFS Furniture, said: "While the UK furniture retail market continues to be very challenging, we remain focused on making strategic progress to strengthen our position in living room furniture.
"This acquisition represents a clear opportunity for DFS to accelerate our proven strategy of broadening our appeal, generating substantial long-term returns for shareholders underpinned by well-understood synergies.
He went on to praise Sofology's unique market position and the excellent management by its team, who he says he looks forward to working with in the future.
Find a retail business for sale
Subscribe to the Business Sale Report
Long time established security business which provides highly trained manned guarding operatives to its blue chip clientele. The company provides a total security solution for its high profile corporate clientele. Operating in the premium sector. Of...
LEASEHOLD
Operating in excess of 30 years print and embroidery specialists. This is a retirement sale. Offers invited.
LEASEHOLD
Large property portfolio. All properties are residential. All properties are in good order. Situated in a compact geographical area. Offers invited.
|
18
|
|
Jul
|
Filtermist International completes acquisition of industrial vacuum cleaner manufacturer | BUSINESS SALE
Filtermist International, an air extraction and filtration s...
|
17
|
|
Jul
|
Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION
A caravan manufacturing business in Preston is on the lookou...
|
16
|
|
Jul
|
Farsound Aviation sold to AGIC for £115 million | BUSINESS SALE
A supply chain management company operating in the aviation ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
11
|
|
Jun
|
Upholstery chain falls into administration | ADMINISTRATION
Fabb Sofas, the furniture retailer founded in 2016 by billio...
|
22
|
|
Aug
|
DFS ties up with struggling Dwell to expand its range of customers | BUSINESS SALE
Furniture retailer DFS has purchased furnishings brand Dwell...
|
07
|
|
Feb
|
Portion of DFS property assets for sale | COMMERCIAL PROPERTY
A set of DFS retail warehouse and manufacturing assets have ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources