DIY: Homebase sold to Australian giant Wesfarmers

Get used to this sight, the Aussie DIY store is coming to Ireland

UK & Ireland chain to rebrand as Bunnings

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Read More: Bunnings Home Retail Homebase Wesfarmers

The landscape of DIY superstores in Ireland and the UK is set to shift as home-improvement giant Wesfarmers moves in. In a £340m deal, the Australian market leader is set to takeover the Homebase chain from its parent company Home Retail.

Over the next three to five years, Homebase will rebrand as Bunnings while Wesfarmers invests £500m (€655m) in expanding the business.

Analysts suggest this sale may be a precursor to a further offloading. Sainsbury’s interest in Argos, another subsidiary of Home Retail, is well-documented. Home Retail plans to reposition Argos as a leading online retailer, after which it may be more open to renegotiating a deal with Sainsbury’s.

Meanwhile, Bunnings plans to introduce its Bunnings Warehouse approach to Ireland and the UK. The company will open a series of pilot stores initially before expanding.

Read More: Bunnings Home Retail Homebase Wesfarmers