Homebase is poised for its fourth owner in five years, as turnround specialist Hilco looks to capitalise on the pandemic boost for home improvement groups by putting the chain up for sale.
Damian McGloughlin, Homebase chief executive, said a transfer of ownership within two to three years had “always been part of the plan” and that with Homebase’s profitability restored “now was the right time”.
Hilco acquired Homebase for £1 in 2018 after a disastrous period under the ownership of Wesfarmers, which had paid £340m for the group just 18 months earlier.
In the coming days, information memoranda will be sent to a number of interested parties, including both existing retailers and “various sizes of private equity houses”.
A stock market listing is also an option, added Homebase chief financial officer Andrew Coleman. “It is something we have looked at. We’ll have to see how things play out but all