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 Stephen Hopson, CFO | 0116 282 8000 |
| Citigate Dewe Rogerson | |
| Kevin Smith Ellen Wilton | 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 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, 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.
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