UK-based retailer DFS Furniture has agreed to acquire Sofology for £25m ($32.4m).

The target company is a specialist sofa retailer that owns 37 stores and an online platform.

The acquisition is expected to help DFS Furniture to improve its market position.

American investment company RZC Investments has acquired a majority stake in Rapha.

The target company is a cycling apparel retailer based in the UK, which manufactures and distributes cycling clothing and accessories.