Pepkor Holdings has made an approach to buy the SA owner of the Volpes, Coricraft and Dial-a-Bed chains to further expand in furniture and bedding, according to people familiar with the matter.

Africa’s largest clothing retailer is one of a handful of bidders for Tapestry Home Brands, as private-equity firms Actis and Westbrooke Alternative Asset Management look to sell, said the people, who asked not to be identified as the process is continuing. The sellers value the company at $250m to $300m R3.96bn-R4.75bn) and there is no certainty a deal with Pepkor will be reached, one of the people said. ..

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