Sofa retailer DFS has announced the acquisition of shares by Polish upholstery supplier Adriana SA.
The acquisition represents 7.78% of the voting rights in the DFS Furniture group, becoming a new major shareholder in the company, with the stake worth around £24m.
At the same time, Martin Currie Investment Management Ltd has reduced its holding in DFS to 1.8% from 7.1%.
A statement from DFS said: “DFS welcomes Adriana to the Group’s share register, and the recognition of the strength of DFS’s business model and its prospects for growth.
“The Group looks forward to continuing the supplier relationship, while pursuing its existing strategy to lead furniture retailing in the digital age.
“DFS further confirms that Adriana is a valued and long-standing upholstery supplier-partner to the Group, based in Poland.”