South Africa's Foschini buys Britain's Phase Eight - CNBC Africa

South Africa's Foschini buys Britain's Phase Eight

Southern Africa

by Reuters 0

Foschini purchases Britain's Phase Eight. PHOTO: tygervalley

The purchase was made for 238 million pounds (361 million dollars), a deal that gives it access to European markets.

(READ MORE: Foschini Group investing in omni-channel retailing technology)

"The Foschini Group announces it has entered into an agreement to acquire 85 percent of Poppy Holdco Limited, which trades as Phase Eight," the company said in a statement.

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