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DFS acquisition may lift it from doldrums

DFS acquisition may lift it from doldrums

Just weeks after a surprise profit warning, sofa specialist DFS (DFS) has agreed to buy retail chain Sofology for £25m. Sofology owns 37 stores in the UK, and also operates via its own website. Cost synergies worth around £4m have already been identified, and the deal is expected to be earnings accretive from the first year. DFS has also managed to refinance its debt to a new lower-cost five-year £230m revolving credit facility, which will go some way to help fund the acquisition.

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