Business

Reversal as sofas tycoon sells DFS

11 April 2012

Last month sofas tycoon Lord Kirkham said his DFS chain was not for sale, noting: "I don't need the money. I'm loaded."

Today he sold it to private-equity house Advent International for an amount that wasn't revealed, but is reckoned to be about £500 million.

Former Alliance Boots chief executive Richard Baker, an Advent operating partner, will take over from founder Kirkham as chairman. Kirkham will retain a stake in the 74-stores business.

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