Brands For Less Group (BFL), a prominent off-price retailer in the Middle East, has entered into a strategic agreement with The TJX Companies, Inc., a global leader in off-price apparel and home fashions. TJX will acquire a 35% stake in BFL, valuing the group at an enterprise value of USD 1.2 billion. This collaboration aims to leverage TJX’s extensive retail expertise to support BFL’s expansion beyond the Gulf Cooperation Council (GCC) region. The agreement underscores TJX’s confidence in BFL’s business model and future growth potential. The transaction was facilitated by deNovo Partners, with legal counsel from White & Case.
Retail, Private Equity,United Arab Emirates, United States
https://www.zawya.com/press-release/companies-news/brands-for-less-signs-an-agreement-with-the-tjx-companies-inc-for-the-sale-of-a-35-stake-k3z5b2xb