Eversheds Sutherland advises DFS on completion of Sofology acquisition
4th December 2017
Eversheds Sutherland has successfully advised DFS, one of the UK’s leading retailers of upholstered furniture, upon the completion of the acquisition of Sofology Limited (Sofology).
Sofology, a specialist retailer with a network of 37 stores in the UK and a strong online presence has been acquired through a subsidiary of DFS – DFS Furniture Company Limited – for an enterprise value of £25m.
The Competition and Markets Authority (CMA) granted unconditional clearance of the transaction five days ahead of its statutory deadline. It is the CMA’s first merger decision concerning the retail of upholstered living room furniture.
The Eversheds Sutherland team was led by Partner Amanda Partland (Corporate) and was supported by Partner Kate Newman (Competition), Principal Associate David Milne (Corporate), 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 significant transaction for the continued success of its business and 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. Their competition specialists also pulled out all of the stops to deliver unconditional CMA clearance ahead of schedule. 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.
We’re very pleased to have supported DFS on what is a significant transaction for the continued success of its business and will further strengthen its position within the market.