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The Original Factory Shop nears sale to In The Style owner

The Original Factory Shop nears sale to In The Style owner

The Original Factory Shop (TOFS) is close to being sold after more than 17 years under the ownership of private equity firm Duke Street Capital.

Baaj Capital, a family office behind investments in fashion retailer  In The Style and Amscan International, is the leading contender to acquire the discount retail chain, Sky News has learnt.

Sources say that while a deal has not yet been finalised, an announcement could come as soon as next week.

Other potential buyers reportedly included Mike Ashley’s Frasers Group and Poundstretcher, owned by investment group Fortress, although Baaj Capital is now said to be the frontrunner.

TOFS, which has been owned by Duke Street since 2007, operates over 180 stores across the UK.

The retailer sells a range of products including beauty brands like L’Oréal, sportswear from Adidas, and DIY tools from Black & Decker.

TOFS has been exploring its options for some time, with Duke Street having sought a sale since 2013.

The retailer appointed Rothschild in 2016 to conduct a strategic review, and last year, Deloitte was brought in to kick-start the sale process.

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