Friday October 23, 2020

Australia's Wesfarmers to buy Homebase for £340 million

Homebase stores in Ireland and the UK will be rebranded as Bunnings

18th January, 2016
Homebase stores will be rebranded under the Bunnings name over the next three to five years Pic: RollingNews.ie

Australia’s home-improvement leader Wesfarmers has agreed to buy Home Retail Group's Homebase chain for £340 million pounds (€444 million).

Bunnings, which dominates the Australian do-it-yourself market, will rebrand Homebase stores under its name over the next three to five years and invest £500 million expanding the business, Wesfarmers said.

The purchase will shake up the £38 billion UK home-improvement market, where Homebase has struggled to bridge the gap to market leader B&Q. It...

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