Competition watchdog to examine B&Q acquisition of Homebase stores in Waterford, Navan and Letterkenny
A Operates Number Brico Is Across Of B&q Countries Castorama, In Of Which As B&q, Tradepoint Ireland And Screwfix, Europe Kingfisher, Subsidiary Dépôt A
Ireland's competition watchdog is to examine the acquisition by retailer B&Q of Homebase outlets in Waterford, Navan and Letterkenny.
The DIY hardware chain said it acquired the three leasehold stores for a total purchase price of £3.2m (€3.86m) with the stores to be rebranded to join B&Q's eight existing outlets in the Republic of Ireland.
The agreement for the stores is subject to landlord and regulatory approvals, with the expectation that the transactions will be completed in the first quarter of 2025. B&Q said it will convert the first of the stores in the first half of next year and aims to complete the conversion of all sites by the end of 2025.
B&Q Ireland is a subsidiary of Kingfisher, which operates in a number of countries across Europe as B&Q, Screwfix, Castorama, Brico Dépôt and TradePoint. Capital expenditure relating to the store acquisitions and fit-out costs will be incurred in Kingfisher financial year 2025/26.
On completion of the acquisition, following a period of consultation with the employees at the three stores, they will become employees of B&Q.
The Competition and Consumer Protection Commission (CCPC) has opened a preliminary investigation into the acquisition. It is accepting submissions from the public up until January 10 in relation to the deal.
B&Q's CEO Graham Bell said they were delighted to be adding these three stores to the retailer's 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," he said.
"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.”
HHGL and HHGL (ROI) are controlled by Hilco Capital and operate stores under the Homebase brand, a DIY improvement retailer active in the supply of DIY, kitchen and bathroom, painting and decorating, electrical, furniture, building and hardware products.