What does the acquisition of Allied Carpets by investment fund Sigma mean for Carpetright, the quoted player?
It is understood that Allied, until this week owned by Tapis Saint-Maclou, has not made an operating profit for the past eight years and analysts think that market leader Carpetright is likely to retain its position – particularly if Allied, as expected, slims down its portfolio.
Singer Capital Markets analyst Matthew McEachran said: “In light of plans to close stores and given the acquirer is an investment fund rather than a trade buyer, we see scope for Carpetright to make further market share gains.
“We remain positive on Carpetright’s prospects, driven by market share gains, efficiency programmes, the development of new and complementary earnings streams, a strong balance sheet and management track record.”
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