B&Q buys Homebase stores in Letterkenny, Navan and Waterford

Hardware chain B&Q has announced it will buy three Homebase stores in the Republic.

The British retailer confirmed on Tuesday that it purchased the Homebase stores in Letterkenny, Navan and Waterford in a deal worth €3.7 million.

The three stores will add to B&Q's existing network of eight stores in the Republic.

The agreement for the stores is subject to landlord and customary regulatory approvals, with the expectation that the transactions will complete in the first half of next year.

B&Q will convert to its banner the first of these stores in the first half of next year and aims to complete the conversion of all sites by the end of 2025.

The firm said workers at the three stores will become employees of B&Q on completion of the acquisition and following a period of consultation.

Chief executive of B&Q Graham Bell said: “We’re delighted to be adding these three stores to our fantastic store 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.

“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.”