17 February 2025
Topps Tiles plc
("Topps Group" or the "Company")
Acquisition of the brand and certain
assets of CTD Tiles - CMA phase 1 referral
decision
On 19 August 2024, Topps Group announced that it
had acquired the CTD Tiles brands, 30 retail stores, selected stock
and all related intellectual property ("CTD") from CTD Tiles Limited. On
2 October 2024, the Company announced that the UK's
Competition and Markets Authority ("CMA") intended to review the
transaction under UK merger control.
The Company is pleased to note that following
the announcement of its Phase I decision today, the CMA found that
the transaction has generated no competition concerns in the
majority of areas reviewed. Specifically, the CMA agreed with
the Company that its acquisition of the CTD commercial tile
operations (CTD Architectural and CTD Housebuilder) did not raise
any competition concerns and that in 26 out of 30 locations where
retail stores were acquired no local competition concerns were
identified.
In the four retail localities where the CMA has
identified possible concerns (Dorking, Aberdeen, Inverness and
Edinburgh) the Company now has the opportunity to put forward
remedies to address these concerns in lieu of a more in-depth
investigation. The Company will continue to work with the CMA in a
constructive and professional manner, as it has done throughout
this process.
A further announcement will be made in due
course.
For further information please
contact:
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Topps Tiles Plc
|
|
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Rob Parker, CEO
Stephen Hopson, CFO
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0116 282
8000
|
|
Citigate Dewe Rogerson
|
|
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Kevin Smith
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020 7638
9571
|
Notes to Editors
Topps Tiles Plc is the UK's largest
specialist supplier of tiles and associated products, targeting the
UK domestic and commercial markets and serving homeowners, trade
customers, architects, designers and contractors from 300
nationwide Topps Tiles stores, a commercial showroom in London and
nine customer-facing websites: www.toppstiles.co.uk,
www.parkside.co.uk,
www.protilertools.co.uk,
www.northantstools.co.uk,
www.premiumtiletrim.co.uk,
www.warmfloorstore.co.uk
www.flooringmaterials.co.uk,
www.tilewarehouse.co.uk
and www.ctdtiles.co.uk.
Since opening its first store in
1963, Topps has maintained a simple operating philosophy
‐ inspiring customers with
unrivalled product choice and providing exceptional levels of
customer service. For further information on the Group,
please visit www.toppsgroup.com
