Homebase to rebrand as Bunnings Warehouse

Last night, the news broke that Wesfarmers, owners of the Bunnings Warehouse DIY Chain in Australia and New Zealand are close to concluding a deal to buy Homebase from Home Retail Group for £340m.

Since then, Wesfarmers have issued a press release stating "The acquisition would be the first step in a program which would invest in the Homebase team and reinvigorate core Homebase assets to build an exciting new Bunnings-branded business over three to five years ".

If this deal goes ahead, the news that Homebase will be dumped in favour of the Bunnings Warehouse brand, will come as a shock to both customers, employees and competitors alike.

Read the full Wesfarmers press release here.

Source: Insight Team