In September 2016, Poundland was acquired by Steinhoff Europe AG (‘’Steinhoff’’) for £610 million. As a consequence, Poundland shares have been delisted from the London Stock Exchange.
Steinhoff’s vertically integrated business model is based upon a strategy of sourcing and manufacturing products at low cost and distributing them to its value-conscious customer base through its extensive retail footprint.
Steinhoff’s integrated retail divisions comprise of: Household goods comprising furniture and homeware retail businesses; General merchandise focusing on clothing and footwear, accessories and homeware; and Automotive dealerships in South Africa which provide vehicles, parts, insurance, accessories and servicing.
Steinhoff has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. Steinhoff reported revenue and operating profit for the nine months ended 31 March 2016 of A9.9 billion and A1.1 billion respectively, and employs approximately 105,000 people across 7100 retail outlets in 30 countries across Europe, Africa and Australasia.
Under Steinhoff’s ownership Poundland will remain true to its values and continue to offer amazing value to customers.
The home page for the Steinhoff international group can be accessed via the following link;