Value retailer Mr Price’s acquisition of Power Fashion has just received approval from the South African and eSwatini competition authorities. The deal will come into effect on 1 April and will see Mr Price acquire 173 Power Fashion stores across Southern Africa.
Mr Price bought Power Fashion, also a value retailer, for R1.7 million in November last year. It said at the time the deal would help it acquire new customers in the value segment of the retail market.
“I am really excited about the opportunities that exist for Power Fashion, which is a quality business, however I am more excited about welcoming new associates to the Mr Price Group. We enjoy a similar entrepreneurial culture and the fit will be excellent,” Mark Blair, Mr Price’s CEO said of the deal.
Business Insider SA