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LONDON - Topps Tiles plc has received approval from the Competition and Markets Authority (CMA) for its acquisition of the brand and certain assets of CTD Tiles, concluding a regulatory review that began in October 2024. The CMA has accepted the proposed undertakings by Topps Group, thereby avoiding a more in-depth Phase II investigation.
The CMA’s investigation initially raised concerns at four out of 30 CTD retail store locations. To address these concerns, Topps Group has agreed to divest the stores in the affected locations. The divestment process is underway and is expected to be completed in the near future.
With the CMA’s formal acceptance of the undertakings, the Initial Enforcement Order (IEO) that had been in place is now lifted. This order had limited Topps Group’s management oversight of CTD and halted further integration of CTD’s operations into Topps’ business structure since the enforcement date.
The lifting of the IEO allows Topps Group management to immediately review the retained CTD business. The company plans to provide an update on the performance and strategy of the acquired assets during its Interim Results announcement scheduled for May 20, 2025.
This regulatory clearance marks the end of the CMA’s investigation into the acquisition, removing the risk of a Phase II investigation. The information for this report is based on a press release statement.
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