Brands For Less Partners with TJX Companies in Strategic Stake Sale

Brands For Less (BFL Group), a prominent off-price retailer of fashion, homeware, and toys in the region, has announced a strategic agreement with global off-price retailer The TJX Companies, Inc. (TJX) to sell a 35 percent stake in its business. This transaction values BFL Group at $1.2 billion and marks a significant development in the retail sector.

The agreement will enable BFL to leverage TJX's extensive experience and global reach. TJX, a Fortune 100 company with over 5,000 stores across nine countries, will provide strategic guidance as BFL expands its operations beyond the GCC. This partnership is expected to support BFL’s continued growth and enhance its position in the retail market.

Toufic Kreidieh, Executive Chairman and Co-Founder of Brands For Less Group stated, "Over the past 28 years, we have built the region’s leading off-price retailer of fashion, homeware, and toys. We are thrilled and honored to have TJX as an investor and we thank TJX CEO and President Ernie Herrman and his leadership team for placing their trust in our business. This is an exciting opportunity for growth, and with TJX’s international expertise, we are well placed to successfully execute our strategy while supporting the development and rewarding the dedication of our employees."

deNovo Partners served as the sole financial advisor, and White and Case provided legal counsel to the BFL Group during the transaction.