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The UK competition watchdog on Wednesday said it is considering an investigation of Topps Tiles’ £9.0 million acquisition of CTD Tiles assets. The UK Competition & Markets Authority said it is considering whether the acquisition may be expected to result in a substantial weakening of competition within any markets in the UK for goods or services. It invites interested parties to comment on the transaction until December 18. Topps Tiles bought CTD Tiles’ brand, 30 stores and two distribution sites out of administration in August for £9.0 million. CTD Tiles was a supplier of tiles to the retail, trade and commercial markets. It brought in annual revenue of around £75 million, around £50 million of which came from the 86 stores it operated across the UK. Topps Tiles shares were flat at 39.90 pence each at around midday in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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