UPDATE: Homebase acquisition complete
Published: 29 February 2016
Australian retailer Wesfarmers confirmed today that it has completed the £340m purchase of Homebase.
It comes just days after shareholders at Home Retail Group, Homebase's now former owner, gave the purchase the
green light. Wesfarmers managing director Richard Goyder welcomed the acquisition, which adds 15,000 new employees in the UK and Ireland to his workforce.
"We welcome our new employees and are excited about the opportunity to bring the best of Bunnings to the UK and Ireland," he said, casting little doubt on Homebase's future rebranding.