Poundland Could See a Takeover Bid from Steinhoff

Posted on 15 June, 2016 by Editor in Chief

Steinhoff, the South African retailer has confirmed it is looking at making an offer for Poundland. In accordance with UK takeover rules, Steinhoff need to confirm its bid by 13 July.

Poundland could see a takeover bid by Steinhoff

Harvey’s, the UK furniture chain is owned by Steinhoff and produces the majority of their products in developing countries to be sold throughout Europe.

The company was also involved in a takeover battle for the French retailer, Darty and the UK based Home Retail Group who owns Argos, which they both failed to do.

Poundland has been a major household name retailer since 1990 and has opened over 500 stores across the UK, Ireland and Spain. The retailer comes under the name, Dealz in Ireland and Spain.

The two-year plan by Steinhoff is to open an additional 16 new shops across its currently locations.

In 2015, Poundland was successful in taking over rival 99p Stores but has experienced a slowdown in current sales.




Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Recent Posts

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme