REG - Topps Tiles - CMA update

Topps TilesAnnouncement

03/10/2024 07:45

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RNS Number : 8031G  Topps Tiles PLC  03 October 2024

 

For immediate release

 

3 October 2024

 

Topps Tiles plc

("Topps Group" or the "Group")

CMA update

 

On 19 August 2024, Topps Group announced that it had acquired the CTD Tiles
brands, 30 stores, selected stock and all related intellectual property from
CTD Tiles Limited (the "CTD Business") acting by its administrators, James
Lumb and Will Wright of Interpath Limited, for a consideration of £9 million
(the "CTD Acquisition").

Topps Group notes that, further to its announcement of 2 October 2024, the UK
Competition and Markets Authority (the "CMA") has now served an initial
enforcement order under section 72(2) of the Enterprise Act 2002 (the "IEO")
on Topps Group in relation to the CTD Acquisition.

An IEO is routinely applied in cases where the CMA reviews a completed
transaction.  It requires Topps Group and its subsidiary, Tiles4Less Limited,
to, amongst other things, refrain from taking any further action to integrate
the CTD Business into the Group and ensure that, except with the consent of
the CMA, the CTD Business is carried on separately from the Topps Group
business until the CMA review process has concluded.

The Group is actively working with the CMA to ensure compliance with the IEO.

A further announcement will be made in due course.

For further information please contact:

 Topps Tiles Plc
 Rob Parker, CEO         0116 282 8000

 Stephen Hopson, CFO
 Citigate Dewe Rogerson
 Kevin Smith             020 7638 9571

 Ellen Wilton

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 301 nationwide Topps Tiles stores, 30 CTD Tile stores, a range of direct
business to business selling teams, and nine customer-facing websites:
www.toppstiles.co.uk (http://www.toppstiles.co.uk) , www.parkside.co.uk
(http://www.parkside.co.uk) , www.protilertools.co.uk
(http://www.protilertools.co.uk) , www.northantstools.co.uk
(http://www.northantstools.co.uk) , www.premiumtiletrim.co.uk
(http://www.premiumtiletrim.co.uk) , www.warmfloorstore.co.uk
(http://www.warmfloorstore.co.uk) , www.flooringmaterials.co.uk
(http://www.flooringmaterials.co.uk) , www.tilewarehouse.co.uk
(http://www.tilewarehouse.co.uk) and www.ctdtiles.co.uk
(http://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 (http://www.toppsgroup.com) .

 

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