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Tapestry Home Brands
Disposal of Tapestry Home Brands (Pty) Ltd. to The Foschini Group Ltd. for c.R2.4bn
Investec Bank advises Tapestry Home Brands, and its major shareholders Actis and Westbrooke, on the disposal of Tapestry Home Brands to The Foschini Group for c.R2.4bn.
About Tapestry Home Brands
Tapestry is a leading vertically integrated designer, manufacturer and direct-to-consumer omnichannel cash retailer of home furnishings, serving both living and sleeping needs in the middle to upper market segments of South Africa. Tapestry operates c.175 stores across 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 firms.