Focus Confirms Cerberus Talks

Focus DIY has confirmed that it is in talks with Cerberus Capital Management about a possible sale.

A source familiar with the situation told Thomson Merger News that Focus is likely to announce a deal within the week.

“Following the recent speculation, the company confirms that Focus DIY Group is in negotiations with a company affiliated with Cerberus European Investments concerning [a] sale and that, subject to contract, these negotiations are expected to be concluded in the near future,” said the company in a statement.

As previously reported by Thomson Merger News, Cerberus has held talks with Duke Street Capital and Apax, the private equity firms that have owned Focus since 2002.