Truworths acquires Office for 256 million pounds

Following a five-year period of "significant growth in the UK and expansion into Germany" for British footwear retailer Office, comes a change of ownership as Truworths International acquires a majority stake in the company. The acquisition, which has been previously predicted to close last week, was officially announced early Monday morning by private equity firm Silverfleet Capital, who acquired Office in December, 2010.