B&Q Ireland Expands Store Network with Acquisition of Three Homebase Stores
Ireland: DIY retailer B&Q Ireland has acquired three leasehold stores, previously operated by Homebase, in the Republic of Ireland for GBP 3.2 million (USD 3.9 million). These stores, located in Letterkenny, Navan, and Waterford, cover a combined selling area of over 9,300 square metres and will be converted to B&Q outlets. The new stores will offer B&Q’s home improvement products and services, including exclusive Kingfisher brands, kitchen and bathroom design, TradePoint counters, timber cutting, paint mixing, and delivery services.
The acquisitions are subject to landlord and regulatory approvals and are expected to complete in the first quarter of Kingfisher’s FY 2025/26. B&Q plans to convert the first store in early 2025, aiming to complete all site conversions by the end of that year. Employees of the three stores will join B&Q following a consultation period. This acquisition follows Homebase’s entry into administration, during which its brand name and up to 70 stores were acquired by another retailer.
Source: Kitchen and Bathroom News