News that Homebase has been sold to Australian group Wesfarmers for £340m this week raises speculation of what's now going to happen to the DIY retailer, and in particular the garden retailing side of the business.
The new owners are not wasting any time in makng their first moves. Just days after the acquisition was completed, the company launched a cull of the chain’s leadership team.
The UK garden industry will be watching further developments closely as Wesfarmers goes about transforming this business.
Already, Wesfarmers intends to rebrand Homebase as Bunnings over the next three to five years.
As part of the management cull Managing director Echo Lu, who joined the business last April, has already left the business, while finance director Don Davis, commercial director Paul Emslie, retail operations director Ewan McMahon and marketing director Chris McDonough - who only joined Homebase in December - are all reported to be on their way out.
It is thought those senior roles are to be filled by Wesfarmers personnel, with chief operating officer Peter Davis taking on Lu's position. Rodney Boys, Bunnings’ logistics and improvement general manager, will become the new finance director.
Wesfarmers managing director Richard Goyder welcomed the acquisition of the £1.5bn turnover DIY retailer, and added: “We are excited about the opportunity to bring the best of Bunnings to the UK and Ireland.”
Bunnings is Australia’s largest hardware chain, with a total of 338 stores including a presence in New Zealand.
