Britain’s biggest household goods retailer, Home Retail, entered into an agreement with Focus DIY to purchase 27 leasehold properties for 40 million pounds ($81.7 million) in cash, which will be fitted out under the Homebase brand, media reports said.
The move will involve a capital investment of around 30 million pounds, Home Retail said in a statement.
The sales turnover of Home Retail in the last financial year was 5.8 billion pounds.
