Wesfarmers acquisition of Homebase complete
Wesfarmers has completed its acquisition of UK hardware chain Homebase.
Wesfarmers Managing Director Richard Goyder said the acquisition now adds 15, 000 new employees in the UK and Ireland to the Wesfarmers Group.
“We welcome our new employees and are excited about the opportunity to bring the best of Bunnings to the UK and Ireland,” Goyder said.
Wesfarmers announced on 18 January 2016 that it was attempting to acquire Homebase for AUD$658. The acquisition was approved by Homebase’s banking syndicate in early February and by its shareholders at a general meeting held on 25 February 2016.
The acquisition comes just after Wesfarmers revealed Bunnings’ earnt a net profit of AUD$701 million for the six months ended 31 December 2015. This was a 13.4 per cent on the previous corresponding 2014 period.
It also comes at the same time Woolworths is trying to sell is failed Masters hardware’s stores, making the call after it loss Woolworths more than AUD$600 million.
The Apple Press is a New Zealander company based in Hawke's Bay. They are on a mission to bring wha...
American grocer Whole Foods has revealed its annual list of food and beverage trends for 2018.
Deputy Prime Minister Barnaby Joyce has announced a $50 million Export and Regional Wine Support Pac...
Blueberries and supplements could be the key to eliminating the “baby blues” says a group of Canadia...
Coles has signed a strategic partnership with global technology leader Microsoft to accelerate its ...
Separate recent discoveries by scientists have potential to generate or improve fresh water producti...
The A2 Milk Company this week announced it has already brought in AUD $148 million of revenue for t...
A new study from the University of Melbourne and Harvard University has found certain nutritional su...