Steinhoff Chief Executive Officer Louis du Preez addresses a presentation to investors in Cape Town, South Africa, August 13, 2019.said on Friday it had sold Blue Group, owner of Bensons for Beds and Harveys Furniture, to Alteri Investors for an undisclosed price.
“The sale of Blue Group is the latest in a series of planned divestments by Steinhoff as we continue with our announced strategy of simplifying the group’s portfolio and deleveraging our balance sheet,” Steinhoff CEOThe company, which added the transaction was subject to regulatory approvals, did not disclose its value. Blue Group was a relatively minor part of Steinhoff’s operation, contributing just under 5% of revenues in the six months ended March 31.
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