The Original Factory Shop nears sale to Baaj Capital
According to Sky News, other suitors for the business are said to be Mike Ashley’s Frasers Group and Poundstretcher
The Original Factory Shop (TOFS) is close to being sold after more than 17 years of ownership of private equity firm Duke Street, Sky News has revealed.
Baaj Capital, a family office behind investments in fashion retailer In The Style as well as party supplies group Amscan International, is allegedly the contender to acquire the discount retail chain.
According to some sources, a deal has not yet been finalised but could be announced as soon as in the next couple of days.
According to Sky, other suitors for the business are said to be Mike Ashley’s Frasers Group and Poundstretcher.
TOFS was established in 1969 and sells beauty brands such as L’Oreal, the sportswear brand Adidas and DIY tools made by Black and Decker.
The retailer was bought by Duke Street in 2007 and now operates more than 180 stores across the UK.
Both TOFS and Baaj Capital have been contacted for comment.
