Dunnes Stores to buy Whelan Food and Meat
Dunnes Stores have eyed up another acquisition to add to their retail portfolio. The Irish retailer have proposed a deal to buy two meat wholesale businesses, Whelan Food & Meat Processors and Tipperary Sustainable Food Company. Both companies are under the control of Pat Whelan, owner and operator of Whelan’s Butchers who operate in the luxury Avoca Food stores.
Dunnes recently acquired Café Sol and plan on bringing expansion plan for the brand into place throughout 2016 and integrate some outlets in their bigger stores. The proposal was made to the Competition Authority this week to acquire Whelan’s and has entered the preliminary phase.
Wesfarmers buy Homebase
Australian home retail brand Wesfarmers have agreed to buy Homebase for £340 million and will invest £500 million transforming it into the Bunnings brand. The deal is still seeking approval from shareholders and if accepted would make Bunnings the second largest DIY and Garden Retailer in the UK and Ireland. Homebase, who have 265 stores have struggled in recent years against B&Q. Representatives from Wesfarmers’ said company analysts had studied the UK market for over a year, prior to the bid.
Homebase’s management team are to be replaced by Bunnings’ staff. However, it is understood Homebase’s current chief executive will stay in place. A statement from Wesfarmers’ it could ‘improve on Homebase’s store operations, cut prices, widen ranges, improve service, appeal more to tradesmen and do more online’.
Harvey Norman in Cork on sale for €8.2 million
Harvey Norman in Cork is on the market for €8.2 million through estate agents Savills. The store which is located on the Kinsale Road, is one of 12 stores across Ireland and produces a rent roll of €678,699 annually. The retail warehouse has another 9 years guaranteed under the current lease, with an upward only rent review due in 2020.