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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