Eversheds Sutherland (International) advises DFS on proposed acquisition of Sofology
3 August 2017
Eversheds Sutherland (International) has advised one of the UK’s leading retailers of upholstered furniture, DFS Furniture plc (DFS), on its proposed acquisition of the entire issued share capital of Sofology Limited (Sofology).
Sofology, a specialist retailer with a network of 37 stores in the UK and a strong online presence, will, subject to the satisfaction of certain conditions, be acquired through a subsidiary of DFS – DFS Furniture Company Limited – for an initial enterprise value of £25m.
The Eversheds Sutherland team was led by corporate Partner, Amanda Partland and comprised: Partner Kate Newman (competition), Principal Associates David Milne (corporate) and David Smith (tax), Senior Associate Jessica Martin (competition) and Associate Jonathan Wharam (corporate).
Amanda Partland, Eversheds Sutherland, commented:
“We’re very pleased to have supported DFS on what is a noteworthy transaction for the continued success of its business and part of its proven strategy, which will further strengthen its position within the market.”
Nicola Bancroft, CFO, DFS, commented:
“The support of Eversheds Sutherland has proved integral to the success of this process. The team provided commercially sound, technical advice and remained responsive and pro-active throughout, ensuring a well-managed and seamless delivery of the deal. We’re delighted.”
The Eversheds Sutherland company commercial team advises a number of significant clients within the retail sector. The team recently advised fashion retailer Next on its joint venture with TV Chef Gino D’Acampo and Individual Restaurants to open Prosecco bars and restaurants in Next stores.