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Topps Tiles PLC on Thursday said it has received approval from the UK Competition & Markets Authority in relation to its acquisition of CTD Tiles Ltd, a tile retailer to the trade, retail and commercial markets that went into administration. The Leicestershire, England-based tile retailer agreed a £9 million purchase of 30 CTD Tiles stores in August last year, but following a phase 1 investigation, the CMA found a small number of sites in Dorking, Edinburgh, Inverness and Aberdeen created competition concerns in the supply of tiles to customers. Elsewhere, the CMA concluded that in ‘most’ areas, there are sufficient remaining competitors. Topps Tiles submitted proposals at the end of February outlining how it intended to resolve the CMA’s concerns. Following receipt of CMA approval on Thursday, the CMA review has now been concluded and will not progress to a phase 2 investigation. As part of this conclusion, Topps Tiles will divest the four CTD Tiles stores where the CMA identified potential concerns. The firm said this process is ‘now being executed at pace’ and is expected to complete ‘in the coming months’. Topps Tiles will now review the retained CTD business and provide an update on its performance as part of its interim results release on May 20. Prior to the takeover, CTD Tiles delivered annual revenue of around £75 million, around £50 million of which came from the 86 stores it operated across the UK. Shares in Topps Tiles were down 1.0% at 31.20 pence each in London on Thursday afternoon. The stock is down 24% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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