/ 16 March 2000

FOSCHINI BUTS TOTALSPORTS

FASION retail group Foschini said on Monday that it has bought sporting apparel retailer Totalsports for R75-million. It said in the statement that the acquisition of Totalsports from Moresport Holdings will strengthen its position in the sporting apparel market. Foschini said that the R75-millon price tag represents net assets of about R56-million with the balance comprising goodwill.