Deals
Clayton Dubilier in Exclusive Talks to Buy French Retailer BUT
- Ex-Tesco boss Leahy may become chairman if deal gets approved
- Offer continues brisk year for dealmaking in European retail
This article is for subscribers only.
Clayton, Dubilier & Rice and a partner have entered exclusive talks to acquire French furniture retailer BUT Group in what would be the latest deal in a rapidly consolidating European retail industry.
The U.S. buyout firm and WM Holding, an investment company linked to European furniture retailer XXXLutz Group, have made a binding offer for BUT, according to a statement from CD&R Wednesday. CD&R adviser Terry Leahy, the former chief executive officer of U.K. grocer Tesco Plc, might assume the chairman’s role if the deal gets approved.