White Stuff offloaded for £50m to South Africans
Sell-off: White Stuff was founded in 1985
White Stuff has been snapped up by South African-based retail firm The Foschini Group (TFG).
It is understood TFG, which also owns Hobbs, Whistles and Phase Eight, will pay around £50m for the High Street fashion chain.
TFG has said it plans to expand White Stuff’s portfolio of shops and concessions further after positive recent growth for the brand.
The retailer, which was founded in 1985, has 113 stores and 46 concessions in the UK. Revenues for the business grew to a record £154.8m in the year to April.
White Stuff chief executive Jo Jenkins will continue in the role while founders George Treves and Sean Thomas will step down from the board and leave the firm.
Treves, co-founder of White Stuff, said the sale to TFG is ‘significant and emotional’ for him and Sean Thomas.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Saxo
Saxo
Get £200 back in trading fees
Trading 212
Trading 212
Free dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Discover more from Сегодня.Today
Subscribe to get the latest posts sent to your email.
