Consumer
TJ Maxx Owner Gains Mideast Access With Brands for Less Stake
- TJX Cos. buying 35% stake in Dubai-based firm for $360 million
- Deal will help Brands for Less grow in the Mideast and beyond
The Brands For Less Group Technopark office in Dubai.
Source: BFL GroupThis article is for subscribers only.
The owner of T.J. Maxx has acquired a 35% stake in Dubai-based Brands for Less for $360 million, giving the US discount retailer access to fast-growing consumer markets in the Middle East.
TJX Cos. is buying into the firm at an enterprise value of $1.2 billion, according to a statement. Brands for Less said TJX, with its 5,000 stores globally, would support the firm’s expansion in the Persian Gulf and beyond, including Malaysia and Singapore.