B&Q Expands UK Footprint with Purchase of Five Homebase Leaseholds
United Kingdom: B&Q has reached an agreement to acquire five leasehold stores in the UK, currently operating as Homebase, for a total purchase price of £2.5 million ($ 3.1 million approx). The five stores are located in Altrincham, Basingstoke, Biggleswade, Leamington Spa, and Worcester. Following their conversion to the B&Q brand, these stores will offer a combined total selling area of over 25,000 square meters. Customers will have access to B&Q's extensive range of home improvement products and services, including exclusive brands, kitchen and bathroom design and installations, TradePoint counters, timber cutting, paint mixing, and an extended online range of over 1.2 million products. The agreement is subject to landlord approvals, with transactions expected to complete in the first quarter of Kingfisher's FY 2025/26. Store conversions are planned to begin in Spring 2025 and are anticipated to be completed by the end of 2025. Upon completion of the lease assignments, employees at these stores will become B&Q employees.
Source: DIY Week