Foschini Group buys Coricraft, Dial-A-Bed

Business

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.

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