Brands For Less sells 35% stake to The TJX Companies

Image: BFL

Brands For Less (BFL Group), the off-price retailer of fashion, homeware and toys, has entered into a strategic agreement to sell a 35 per cent stake to The TJX Companies, the world’s largest off-price retailer of apparel and home fashions.

The deal values BFL Group at an enterprise value of $1.2bn

The TJX Companies, a Fortune 100 firm known for its global retail brands including TJ Maxx, Marshalls, HomeGoods, and TK Maxx, will provide strategic guidance to BFL as the Dubai-based group looks to expand beyond the GCC region.

Brands for Less to leverage the global brand’s strengths

With more than 5,000 stores across nine countries and three continents, The TJX Companies’ involvement is expected to bolster BFL’s growth trajectory.

Toufic Kreidieh, executive chairman and co-founder of BFL Group, expressed enthusiasm about the partnership, stating, “Over the past 28 years, we have built the region’s leading off-price retailer. We are thrilled to have TJX as an investor, and we thank CEO and president Ernie Herrman and his leadership team for placing their trust in our business.

“With TJX’s international expertise, we are well-positioned to execute our strategy and support the development of our dedicated employees.”

Financial advisory for the transaction was provided by deNovo Partners, with White & Case acting as legal counsel for BFL Group.