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DFS acquires Dwell

Upholstery retailer DFS has acquired Dwell after earlier providing financial support to the growing furniture and home accents retailer.

Terms of the deal were not immediately disclosed. It follows DFS announcing in February that it was to provide modest financial support to Dwell - bought back by its founder Aamir Ahmad off administrators last year - as part of a brand partnership agreement.

Dwell has five retail showrooms across Britain and an online store. DFS CEO Ian Filby described Dwell as a strong, contemporary brand with strengths that would complement DFS’ offering, adding it would work with Dwell to reach younger, more urban consumers DFS hadn’t traditionally targeted.

Aamir Ahmad, Dwell CEO, said the management team had always believed in the potential of the brand and with DFS as its parent company it could fully embrace and accelerate new growth opportunities. Dwell will retain a separate management team.

Its Dwell acquisition follows DFS paying £5.9m to acquire the Sofa Workshop retail chain last year.

Source : The Furnishing Report

21 August 2014

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