Johannesburg – The Foschini Group (TFG) will soon own Coricraft and Dial-A-Bed.
The group has entered into a purchase agreement with the owner of Tapestry Home Brands for R2.3 billion.
The 17-year-old Tapestry employs approximately 2,500 people.
It has manufacturing factories in Cape Town, Johannesburg and Gqeberha.
TFG CEO Anthony Thunstrom said the move will see more manufacturing locally.
