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Under the terms of the agreement with Sainsbury's to acquire Home Retail Group, for each Home Retail Group share, shareholders received 0.321 new Sainsbury’s shares and 55p per share. As a result of the sale of Homebase, they also received 25p per share, plus the year's dividend as a final dividend payment. [22]
At the time of the purchase, Texas had more than 11,600 staff, while Homebase had c. 4,500. As part of the acquisition, 26 Texas stores closed and Sainsbury's converted the remaining stores to the Homebase brand. [4] The conversion to Homebase was completed in 1999, when the Texas Homecare brand was discontinued. [5]
HomeBase was a home improvement warehouse chain in the Western United States based in Irvine, California. History. Robert J. McNulty and George Handgis founded the ...
In December 2000, Kingfisher plc acquired 28 development sites, intended to house future shops of rival chain Homebase from Sainsbury's, who sold the chain. [16] The development sites instead housed shops of B&Q. In August 2001, B&Q opened its first shop in Shanghai, when it hoped to increase outlets from four to 58 by 2005. [17] [18]
In November 2024, it purchased the Homebase brand and up to 70 stores from administrators. [6] On the 17th of January 2025, it converted the first three Homebase sites to The Range fascia, with a Homebase-branded garden centre, and re-launched Homebase.co.uk at midnight on the 21st of January.
Dino Baia Adriano (24 April 1943 – 9 May 2018) [1] [2] was a British businessman, and a chief executive of Sainsbury's, as well as being a director of Homebase, Shaws and a trustee of Oxfam. He was noted in financial circles for trying to turn round the fortunes of Sainsbury's after they lost their number one spot to Tesco.
Sainsbury's sold the Homebase chain in December 2000, in a twofold deal worth £969 million. Sales of the stores to Schroder Ventures generated £750 million and sale of 28 development sites, which had been earmarked for future Homebase shops, were sold for £219 million to rival B&Q's parent company, Kingfisher plc. [32]
Argos (previously an independent company, once owned by British American Tobacco) – the UK's largest catalogue retailer; Homebase (formerly owned and founded by J Sainsbury) – a DIY (home improvement) retailer; ARG Financial Services – provider of store card services, such as the Argos Card and Argos insurance products.