Gatemore Capital Management has been building a significant stake in furniture chain DFS.
Sky News has reported that Gatemore Capital Management notified its fund investors last month that it had begun building a stake in DFS, which has yet to be publicly disclosed. It is expected that the national furniture retailer could present a good takeover target for private equity investors.
DFS shares have risen by around 30 per cent over the past year and in its preliminary results for the Y/E 27 June 2021 advised that revenues had risen by 47.4 per cent with total group revenue reaching £1bn as compared with £724m for the previous year. Total group revenue exceeded £1bn for the first time, compared with revenues of £724m in 2020.
DFS has revealed plans to further develop the Sofology brand as well as to extend into complementary homewares categories.
