About the deal
Investec Bank is advising Tapestry Home Brands and its major shareholders Actis and Westbrooke on the sale of Tapestry Home Brands to The Foschini Group for about R2.4 billion.
About Tapestry Home Brands
Tapestry is a leading vertically integrated designer, manufacturer and direct-to-consumer omnichannel retailer of home furnishings, serving both home and sleep needs in the mid to upper market segment of South Africa. Tapestry has approximately 175 stores in South Africa, Namibia and Botswana and is home to well-known brands such as Coricraft, Dial-a-Bed and Volpes.
Actis and Westbrooke are the majority shareholders of Tapestry, with the rest of the shareholding held by management. Actis and Westbrooke are leading global investment companies.