B&Q has announced its plans to acquire five leasehold Homebase stores across the UK for a total investment of £2.5 million. This strategic move will add over 269,000 square feet of retail space to B&Q’s growing portfolio, cementing its position as a leader in the home improvement sector.

A New Chapter for B&Q

The five stores, located in Altrincham, Basingstoke, Biggleswade, Leamington Spa, and Worcester, will undergo a transformation as they are converted to the B&Q brand. Subject to landlord approvals, the transaction is expected to be finalised in the first quarter of Kingfisher’s 2025/26 financial year. Store conversions are scheduled to begin in spring 2025, with completion anticipated by the year’s end.

This acquisition follows B&Q’s recent expansion into Ireland, where it acquired three Homebase stores in late 2024, adding over 100,000 square feet of retail space.

Excitement at the Helm

Graham Bell, CEO of B&Q, expressed enthusiasm about the acquisition:
“We’re thrilled to be adding these five stores to our network, bringing a total of eight new sites to our footprint in the UK and Ireland. Our goal is to offer home improvers the convenience and choice they deserve, and we’re committed to transforming these stores to meet those needs. It’s a fantastic way to kick off 2025, and we look forward to welcoming our new customers and colleagues to the B&Q family.”

A Response to Market Changes

The move comes after Homebase faced significant financial difficulties, entering administration in November 2024. This led to 74 of its stores being placed on the market. B&Q’s strategic acquisition highlights its adaptability and determination to seize growth opportunities in a shifting retail landscape.

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