Wesfarmers buys Homebase for $705 million

 In Australia, Bunnings, Hardware, International, NewZealand
Wesfarmers expects to complete the $705 million acquisition of British home improvement chain Homebase in the first quarter of 2016 after gaining unanimous approval from the board of its parent, Home Retail Group.
The deal comes after Wesfarmers said on January 14 that it had made a provisional bid for the chain.
The conglomerate has said it plans to roll out its Bunnings hardware brand to Britain within five years. Sydney Morning Herald – Read more…

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