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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]
It went public in 1985, trading on the New York Stock Exchange under the symbol HBI. In 1985, it was acquired by Zayre , a Framingham, Massachusetts -based discount department store chain. After Zayre was acquired by Ames , HomeClub was spun off under a new company called Waban Inc., which also owned BJ's Wholesale Club .
The in-store concession opened in 2017 in the Sainsbury's hypermarket in Calcot, Berkshire was actually a re-instalment, as that store sold Habitat products in the late 1980s and early 1990s when it was a SavaCentre (a 50:50 BHS-Sainsbury Joint Enterprise) hypermarket when both BHS and Habitat were part of Storehouse plc. [30] Sainsbury's ...
Troubled DIY and garden chain Homebase was waiting on around £5 million of tax rebates before collapsing into administration last week. It comes as the stricken firm has set a deadline of the end ...
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]
In January 2016, the sale of sister company Homebase for £340 million was announced. [ 16 ] In April 2016, Argos' parent Home Retail Group agreed to a £1.4 billion takeover by Sainsbury's, following a bidding war between the supermarket chain and South African conglomerate Steinhoff International . [ 17 ]
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]
The new head office was part of a major development by London-based property developer Petros and was set to include residential, retail, hospitality and office space. Dawson has indicated a long-held ambition to commit The Range to a long-term future and its head office jobs to Plymouth, the city where he has lived most of his life.