Retail group TFG has successfully acquired the British fashion and lifestyle retailer White Stuff, marking a strategic step toward achieving critical mass in the UK market. The deal, finalized through TFG London, will be funded using the existing banking facilities of the UK division.
Founded in 1985, White Stuff is known for its unique clothing and accessories for all ages. The brand operates 113 stores and 46 concessions within major retailers like John Lewis and Marks & Spencer. This acquisition is expected to increase TFG London’s turnover by nearly 50%, underscoring its potential for sustained growth.
TFG’s CEO highlighted the significance of this acquisition for their medium-term strategy, enabling a unified retail platform in the UK similar to their operations in Africa and Australia. White Stuff also has a presence in Europe with six stores and 25 concessions, and online sales contribute 43% to its total revenue.
In the fiscal year ending April, White Stuff reported revenue of £154.8 million (approximately R3.5 billion) and earnings before interest, tax, depreciation, and amortization of £8.6 million. The deal was unconditional and officially concluded on October 25, strengthening TFG’s portfolio of brands that includes Phase Eight, Whistles, and Hobbs.