Howdens to Acquire DIY Kitchens for Approximately USD 529 Million to Expand Direct-to-Consumer Reach

Howdens to Acquire DIY Kitchens for Approximately USD 529 Million to Expand Direct-to-Consumer Reach

UK.: Howdens has agreed to acquire the parent company of DIY Kitchens for an enterprise value of approximately USD 529 million on a cash and debt-free basis, comprising about USD 397 million in cash and USD 132 million in Howdens shares. The acquisition will provide Howdens with direct access to non-trade consumers through DIY Kitchens’ online-only, vertically integrated business model, while DIY Kitchens will continue to operate independently. DIY Kitchens generated approximately USD 184 million in revenue and USD 50 million in EBIT in 2025, delivering a 27% EBIT margin and annual revenue growth of more than 17% over the past five years, with property assets valued at around USD 75 million. The transaction values the business at approximately 8.5x LTM EBITDA to March 2026 and is expected to be immediately accretive to revenue, EBIT margin, and EPS, while Howdens maintains its previously announced USD 136 million share buyback programme for 2026 and expects to remain in a net cash position following completion.

Source: Howden Joinery Group Plc