DFS gets the all-clear for Sofology buyout

Helen Cahill
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DFS' share prices has had a rocky year (Source: DFS website)

DFS' acquisition of fellow sofa-seller Sofology has been given the green light by the competition watchdog.

This morning, DFS said the Competition and Markets Authority had cleared the £25m deal without attaching any conditions. The Financial Conduct Authority has also cleared the deal, which will complete on 30 November.

Read more: DFS faces uncomfortable future after warning on 'very challenging' market

Ian Filby, DFS' chief executive, said: "I am 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."

For the financial year ended 31 December 2016, Sofology's revenues were £143m. DFS' revenues, which also include sales in Dwell and Sofa Workshop, were £762.7m for the year ended 29 July 2017.

At time of writing, DFS' share price was up 3.9 per cent at 198p.

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