British fashion retailer Hobbs has been acquired by South African company The Foschini Group (TFG) for an undisclosed sum. TFG, which also owns Phase Eight and Whistles, announced the purchase the morning and praised Hobbs’ successful turnaround strategy over the last two years, led by chief executive Meg Lustman. It was revealed back in July that TFG was eyeing a possible takeover of Hobbs, after its arrival on the market in January with an £80 million price tag.
Here is the original post:
Hobbs acquired by Whistles owner The Foschini Group