27 May 2016

The South Africa Foschini Group Paid 4.4m Pounds for U.K. Chain Whistles

South African retailer considers deal earlier this year “an opportunistic buy,” CFO Anthony Thunstrom says in phone interview.

* TFG isn’t actively seeking further international
acquisitions; focused on integrating Whistles
* TFG likes having U.K. presence as no language, time-
difference challenges
* Phase Eight could have as many as 900 outlets in 5 or 6
* TFG continuing to open outlets in South Africa, other
* NOTE: TFG bought Whistles earlier this year, U.K. chain Phase Eight in 2015

Source: Bloomberg