The Foschini Group to acquire Tapestry Home Brands for $133m.

The Foschini Group, a South African JSE listed retail clothing group, agreed to acquire Tapestry Home Brands, a South African retailer of furniture, for $133m. “Acquiring this highly cash generative business presents significant revenue opportunities within the TFG ecosystem. In addition, TFG’s retail credit offering and its digital and omnichannel capabilities are expected to substantially enhance Tapestry’s growth and digital transformation efforts,” Anthony Thunstrom, TFG CEO.