REG - Topps Tiles - Conclusion of CMA investigation - CTD Tiles

Topps TilesAnnouncement

24/04/2025 07:30

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RNS Number : 0179G  Topps Tiles PLC  24 April 2025

24 April 2025

Topps Tiles plc ("Topps Group" or the "Company")

Acquisition of the brand and certain assets of CTD Tiles - conclusion of CMA
investigation

 

Further to its announcement of 3 March 2025, the Company is pleased to note
that the Competition and Markets Authority ("CMA") has now formally approved
its proposed undertakings in lieu of a Phase II investigation (the
"Undertakings").

The CMA review did not identify any competition concerns in 26 out of 30 CTD
retail store locations or in either the CTD Architectural or Housebuilder
businesses, which operate on a national basis.  Topps Group has agreed to
divest the stores in the four remaining retail locations where the CMA
identified potential concerns.  This process is now being executed at pace
and is expected to complete in the coming months.

As a result of the formal acceptance of the Undertakings, the Initial
Enforcement Order under section 72(2) of the Enterprise Act 2002 (the "IEO")
which has been in place since 3 October 2024, ceases to apply with immediate
effect.  The IEO had restricted management oversight of CTD and prevented any
further integration of CTD into the wider Topps' business which was not
already in place as at the enforcement date.  Group management will now
conduct an immediate review of the retained CTD business and provide an update
on its performance and strategy as part of the Interim Results announcement on
20 May 2025.

Acceptance of the Undertakings eliminates the risk of a Phase II investigation
and the CMA investigation has now been concluded.

 

For further information please contact:

Topps Tile Plc

 Rob Parker, CEO       0116 2828000

 Stephen Hopson, CFO

 

Citigate Dewe Rogerson

 Kevin Smith  020 7638 9571

 

Notes to Editors

Topps Tiles Plc is the UK's largest specialist supplier of tiles and
associated products, targeting the UK domestic and commercial markets and
serving homeowners, trade customers, architects, designers and contractors
from  298  nationwide Topps Tiles stores, a commercial showroom in London and
nine customer-facing websites: www.toppstiles.co.uk
(http://www.toppstiles.co.uk) , www.parkside.co.uk (http://www.parkside.co.uk)
, www.protilertools.co.uk (http://www.protilertools.co.uk) ,
www.northantstools.co.uk (http://www.northantstools.co.uk) ,
www.premiumtiletrim.co.uk (http://www.premiumtiletrim.co.uk) ,
www.warmfloorstore.co.uk (http://www.warmfloorstore.co.uk) ,
www.flooringmaterials.co.uk (http://www.flooringmaterials.co.uk) ,
www.tilewarehouse.co.uk (http://www.tilewarehouse.co.uk)  and
www.ctdtiles.co.uk.

Since opening its first store in 1963, Topps has maintained a simple operating
philosophy ‐ inspiring customers with unrivalled product choice and
providing exceptional levels of customer service.  For further information on
the Group, please visit www.toppsgroup.com (https://www.toppsgroup.com/)

 

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