Acquisition of 265 Homebase stores would accomplish Bunnings the second largest home improvement and garden retailer in the UK and Ireland behind B&QWesfarmers is to invest £500m in transforming Homebase into the Bunnings brand over the next three-to-five years whether shareholders approve the Australian firm’s takeover of the British DIY chain.
Home Retail Group accepted a £340m bid for its Homebase commerce on Monday, paving the way for a takeover of its Argos commerce by Sainsbury’s. The sale of Homebase must be approved by Home Retail’s shareholders. Related: Watch out Wickes and B&Q: Bunnings is coming for your DIY customers Continue reading...
Source: theguardian.com