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Leroy Merlin understood to have been considering Homebase bid

Homebase Bicester 725

The Sunday Times has reported that French DIY retail chain Leroy Merlin has looked at Homebase a number of times in recent years, although it is unclear if the chain is still interested in making a bid. 

An industry figure said: "They have had repeated looks at Homebase, but they are quite conservative," 

Leroy Merlin operates over 370 stores in 12 countries and reported turnover of €14.6bn in 2014.

The report also states that Steinhoff International has also considered Homebase.

The news follows the recent revelation that former Wyevale boss Nicholas Marshall is in discussion with private equity groups over a possible bid for Homebase.

Visit the Sunday Times website to read the full news story:

http://www.thesundaytimes.co.uk/sto/business/Companies/article1641990.ece  

Furthermore, Investec analysts believe Home Retail could be worth up to £1.45bn, assuming an equity value value of £230m for Homebase and £360m for Argos.

Investec’s Kate Calvert commented: “A splitting up of Home Retail we think could be feasible despite the group using its scale to commonly source product and dual-stocking of lines in Argos & Homebase,” 

Source : Insight DIY Team

07 December 2015

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