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CMA investigating CTD Tiles acquisition


THE COMPETITIONS and Markets Authority (CMA) has opened an inquiry into the recent acquisition of CTD Tiles by Topps Tiles. Topps Tiles acquired 30 CTD Tiles


stores and the business’ intellectual property in August, in a deal worth £9 million. The arrangement included ownership of CTD Tiles, CTD Trade and CTD Architectural Tiles, as well as stock and intellectual property. The CMA says it has now served an initial enforcement order (IEO) on Topps Tiles Plc and Tiles4Less Limited, with the launch of an official merger inquiry to follow shortly. The IEO means that Topps Tiles will


have to delay any further integration of the CTD Tiles business into its own, and that the CTD brand will have to carry on independently until the CMA’s inquiry has closed. Following the IEO being served, the CMA’s inquiry will now formally commence a


phase one investigation. Phase one CMA investigations look


into whether an acquisition or business deal is likely to raise competition concerns. After this, the CMA can then launch a phase two investigation, which investigates whether the deal will cause a substantial lessening of competition in the wider market. Topps Group addressed the CMA


inquiry in its latest financial update published earlier this week. The company said it was “actively working” with the CMA during this inquiry process.


HiB chairman Warren Ginsberg, received his MBE, awarded in recognition for his contributions to the bathroom industry, from The Princess Royal at an Investiture Ceremony held at Windsor Castle.


November 2024


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