South African group Steinhoff has entered into an agreement to sell Blue Group, the UK business which operates the Bensons for Beds and Harveys retail chains as well as Relyon Beds and Formation Furniture. Steinhoff has owned the brands since 2005. It will, however, retain its other UK investment Pepco, parent of Poundland.
Steinhoff CEO Loius du Preez commented: “The sale of Blue Group is the latest in a series of planned divestments by Steinhoff as we continue with our announced strategy of simplifying the group’s portfolio and deleveraging our balance sheet.”
Blue Group CEO Mark Jackson said: “We are delighted to be teaming up with Alteri. Throughout the sale process they have demonstrated an in-depth understanding of our business and their expertise, not least in digital, will help turbo-charge our plans to drive the performance of the group.”
Share