15-June-2016

Steinhoff considers Poundland purchase

 

Steihoff, the South African owner of Bensons for Beds and Harveys is reportedly considering a takeover of Poundland.

 

The move comes just a few months since they pulled out of purchasing Argos after Sainsbury’s increased their bid. Apparently still looking to diversify, Steinhoff has made a statement saying they are considering buying the entire share capital of Poundland.

 

Poundland initially floated two years ago and since then has completed the takeover of the 99p Stores chain.

 

In the 13 weeks to 27 March 2016, the group posted sales of £263.8m, up from £255m a year ago.

 

Total sales at Poundland including former 99p Stores will be £1.31bn this year.

 

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