Indian textiles giant takes home furnishings chain
Indian textiles manufacturer GHCL has completed a£27 million acquisition of UK retailer Rosebys.
As revealed in Retail Week (June 23), private equity group LDC, which backed a management buy-out of the home furnishings retailer in 2004, has sold its 73.5 per cent share in the company.
Rosebys' turnover was£145 million last year. It operates 320 stores in the UK and has expanded its offer to include electricals and homewares. Its 40-store sister chain Fabric Warehouse was not included in the deal.
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