Topps Tiles Faces Regulatory Scrutiny Over CTD Acquisition

The Competition and Markets Authority warns the £9 million deal may harm competition in four UK regions, prompting investor criticism.

The Competition and Markets Authority (CMA) has raised concerns that Topps Tiles' acquisition of CTD Tiles could reduce competition in Dorking, Edinburgh, Inverness, and Aberdeen.
The £9 million deal, completed in August 2024, involved Topps Tiles purchasing 30 stores and part of CTD's stock after the latter went into administration.
The CMA's phase 1 investigation found potential for higher prices and worse service in the affected regions, with Topps Tiles given until February 24 to propose solutions.
MS Galleon, Topps Tiles' largest shareholder, criticized the acquisition as overvalued and poorly planned, calling for strategic changes and a focus on digital transformation.
Topps Tiles stated it is cooperating with the CMA and highlighted that the majority of the acquisition raised no competition concerns.