The ‘Brands for Less’ group…a ​​$420 million deal is crowning its success

Brands for Less announced that it has signed a strategic agreement with global discount clothing and home fashion retailer (TJX), to sell 35 percent of the company’s stake.

The deal values ​​the Brands for Less group’s market value at $1.2 billion. The value of the contract is $420 million.

TJX Companies is a company that specializes in selling discount clothing and home fashions in the United States and the world.

Brands for Less is benefiting from TJX’s strategic direction as the group looks to expand beyond the Gulf region.

TJX’s global expertise supports the continued growth of the Brands for Less group, which can be seen in more than 5,000 stores in nine countries spread over three continents around the world.

Tawfiq Kreidieh, Executive Chairman and Co-Founder of the Brands for Less Group said: The Brands for Less Group has developed a discount retail model in the region over a period of 28 years to become a regional leader in this area, focusing on the trade fashion, household items and toys. We are pleased that TJX is investing in our organization.

He said: “This step represents an important opportunity for the company’s growth, and thanks to TJX’s global experience, we will move forward with the successful implementation of our strategy while supporting career development every member of our team.”

Denovo Partners acted as sole financial advisor on the transaction, while White & Case provided legal advice to Brands for Less.