Brands For Less Completes Sale of 35% Stake to The TJX Companies, Inc.

Brands For Less Completes Sale of 35% Stake to The TJX Companies, Inc. 

BFL remains committed to delivering exceptional value to its stakeholders. With the support of TJX, the Group is well-positioned to achieve its long-term growth objectives and solidify its position as the region’s leading off-price retailer.

Brands For Less Group (“BFL”) is pleased to announce today the successful completion of the sale of a 35% stake in the company to The TJX Companies, Inc. (“TJX”). 

 

Following this acquisition and to further strengthen the company’s leadership team, BFL announces the following leadership changes:

 

  • Toufic Kreidieh will assume the role of Executive Chairman of the Board

  • Yasser Beydoun will continue to serve as Executive Vice Chairman of the Board

  • Ayman Beydoun will be appointed CEO of Brands For Less Group and will continue to serve as a member of the board

  • Two senior executives from TJX will join the BFL Board of Directors

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