B&Q Ireland has reached an agreement to buy three Homebase stores in Ireland for £3.2m.
The company said the three stores in Letterkenny, Navan and Waterford will complement it’s existing network of eight stores in the Republic of Ireland.
Following conversion to the B&Q banner, the stores will have a combined total selling area of over 9,300 square metres.
The agreement for the stores is subject to landlord and customary regulatory approvals, with the expectation that the transactions will complete in the first quarter of next year.
B&Q aims to convert the first of these stores to its banner in the first half of next year and plans to complete the conversion of all sites by the end of 2025.
On completion of the acquisition, following a period of consultation with the employees at the three stores, they will become employees of B&Q.
“We’re delighted to be adding these three stores to our fantastic store network,” said Graham Bell, CEO of B&Q.
“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,” he added.