Topps Tiles / CTD Tiles (certain assets) merger inquiry
The Competition and Markets Authority (CMA) is investigating the completed acquisition by Topps Tiles Plc of certain assets of Tildist Realisations Limited (formerly CTD Tiles Limited).
Statutory timetable
| Date | Action |
|---|---|
| 24 March 2025 | Consultation on proposed undertakings in lieu of reference |
| 3 March 2025 | CMA to consider undertakings offered |
| 17 February 2025 | Phase 1 decision announced |
| 18 December 2024 | Launch of merger inquiry |
| 4 December 2024 to 18 December 2024 | Invitation to comment |
| 3 October 2024 | Initial enforcement order |
Phase 1
Undertakings in lieu of reference consultation
24 March 2025: We are consulting on the proposed undertakings in lieu of a reference offered for the completed acquisition by Topps Tiles Plc of certain assets of Tildist Realisations Limited (formerly CTD Tiles Limited). The consultation period closes on 8 April 2025.
- (24.3.25)
- (24.3.25)
CMA to consider undertakings offered
3 March 2025: The Parties have offered undertakings in lieu of a reference to the CMA, which involve the divestment of tile stores in Aberdeen, Inverness, Edinburgh and Dorking. The CMA considers that there are reasonable grounds for believing that the undertakings offered by the Parties or a modified version of them, might be accepted by the CMA under the Enterprise Act 2002.
- (24.3.25)
Reference unless undertakings accepted
17 February 2025: The CMA has decided, on the evidence currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for an in-depth, phase 2 investigation unless the parties offer an acceptable undertaking to address these competition concerns.
- (14.3.25)
- (17.2.25)
- Press release: Tile deal could lead to worse deals and service for home renovators and tradespeople in 4 local areas (17.2.25)
Launch of merger inquiry
18 December 2024: The CMA announced the launch of its merger inquiry by notice to the Parties.
- (18.12.24)
Invitation to comment: Closed
4 December 2024: The CMA is considering whether it is or may be the case that this merger has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation has resulted or may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.
The CMA is issuing this preliminary ‘invitation to comment’ to allow interested parties to submit to the CMA any initial views on the impact that the transaction could have on competition in the UK. The CMA has not yet launched its formal investigation into this transaction. This invitation to comment is the first part of the CMA’s information-gathering process.
To assist it with this assessment, the CMA invites comments on the transaction from any interested party.
- (4.12.24)
Directions to appoint a monitoring trustee
17 October 2024: Pursuant to an initial enforcement order dated 3 October 2024, the CMA directed Topps Tiles Plc and Tiles4Less Limited to appoint a monitoring trustee.
- (31.10.24)
Directions to appoint a hold separate manager
17 October 2024: Pursuant to an initial enforcement order dated 3 October 2024, the CMA directed Topps Tiles Plc and Tiles4Less Limited to appoint a hold separate manager.
- (31.10.24)
Initial enforcement order
3 October 2024: The Competition and Markets Authority has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on Topps Tiles Plc and Tiles4Less Limited.
- (7.10.24)
Amendments / consents granted
- (7.2.25)
- (7.2.25)
- (7.2.25)
- (7.2.25)
- (7.2.25)
- (7.2.25)
- (7.2.25)
- (26.11.24)
- (26.11.24)
- (7.10.24)
Contact
Please send written representations about any competition or public interest to:
Updates to this page
-
Consultation on proposed undertakings in lieu of reference published.
-
Full text decision published.
-
CMA to consider undertakings offered
-
Phase 1 decision announced.
-
Derogations published.
-
Commencement notice published
-
Invitation to comment published.
-
Derogations published
-
Directions to appoint a monitoring trustee and a hold separate manager published.
-
Initial enforcement order and derogation letter published.
-
First published.