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B&Q has announced that it has reached an agreement to acquire five leasehold stores in the UK, currently trading as Homebase, for a total purchase price of £2.5 m.
This follows the agreement to buy three stores currently trading as Homebase in the Republic of Ireland announced on 24 December 2024, and further complements and strengthens B&Q’s existing network of stores.
Following conversion to the B&Q banner, the five UK stores will have a combined total selling area of over 25,000 square metres and enable more customers to benefit from B&Q’s and TradePoint’s extensive offer of home improvement products and services, helping to make home improvement projects and trade jobs easier.
This includes Kingfisher own exclusive brands, and B&Q’s leading customer propositions: kitchen and bathroom design and installations, TradePoint counters, timber cutting and paint mixing, access to an extended range of over 1.2 million home improvement products at diy.com, and click and collect and home and bulk delivery services at diy.com and trade-point.co.uk.
The agreement for the stores is subject to landlord approvals, with the expectation that the transactions will complete in the first quarter of Kingfisher FY 2025/26, and that the stores will start to be converted to the B&Q banner in Spring 2025. All conversions are expected to be completed by the end of calendar year 2025.
On completion of the lease assignment, the employees at the stores will become employees of B&Q.
The five leasehold stores currently trading as Homebase and being purchased by B&Q Limited in the UK are Homebase Altrincham, Homebase Basingstoke, Homebase Biggleswade, Homebase Leamington Spa, and Homebase Worcester.
Graham Bell, CEO, B&Q, said: “We’re delighted to be buying these five stores, bringing a total of eight additional sites to our fantastic store network in the UK and Ireland. We’re determined to give home improvers the choice and convenience they deserve, and to transform the home improvement stores in these locations to fulfil that need.
“It’s a great way to start in 2025! We look forward to swiftly concluding these purchases and converting the stores to the B&Q brand and offer, and to welcoming our new customers to the stores and new colleagues to the B&Q family.”
