Home improvement and garden giant B&Q has acquired three Homebase stores in the Republic of Ireland, following the retail brand’s collapse at the end of last year.
The deal, which is worth £3.2m, will see the former Homebase stores in Letterkenny, Navan and Waterford join B&Q’s eight existing RoI stores, with staff also being transferred across.
According to B&Q, although the agreement to acquire the stores is subject to regulatory approvals, it expects the deal to complete in the first quarter of the 2025/26 financial year. The company says it expects to convert the first of the three stores into a B&Q location in the first half of 2025, with all three stores converted by the end of the year.
B&Q chief executive, Graham Bell, commented: “We’re delighted to be adding these three stores to our fantastic store network. We’re determined to give home improvers the choice and convenience they deserve, and these locations need a home improvement store that fulfils their need.
“We look forward to swiftly concluding the purchase 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.”
Paddy Earnshaw, B&Q’s retail, property & technology director, also added: “I’m delighted to share that we’re extending our network of 311 B&Q stores having reached agreements to acquire three Homebase stores in the Republic of Ireland, adding to our existing eight stores there.
“The move will add over 9,300 square metres selling space in locations that more customers can benefit from. We look forward to welcoming new customers to the stores and our new colleagues to the B&Q family.”
National home improvement retailer Homebase entered administration in November of last year. However, following its collapse, the business and up to 70 of its stores were acquired by CDS Superstores, the parent company behind The Range and Wilko.
Although the CDS acquisition is estimated to have saved around 1,600 former Homebase roles, around 50 stores are still set to close in the near future, with up to 2,000 employees facing redundancy.
CDS recently outlined plans to open the first three converted former Homebase outlets this month as Range Superstores, and said it also plans to open a further 10 stores each month starting from February.
