DIY retailer B&Q Ireland has bought three leasehold Homebase stores in the Republic of Ireland for around £3.2m.

The three stores – Letterkenny, Navan and Waterford – offer a combined selling area of over 9,300sqm and add to its existing eight store network in the Republic of Ireland.

Homebase fell into administration last year, with owner of Wilko and The Range CDS Superstores acquiring up to 70 stores and saving around 1,600 jobs.

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B&Q will convert the first of these stores to its banner in the first half of next year, and it aims to complete the conversion of all sites by the end of calendar year 2025.

Capital expenditure relating to the store acquisitions and fit-out costs will be incurred in Kingfisher FY 2025/26.

The stores will include Kingfisher own exclusive brands, B&Q kitchen and bathroom design and installations, TradePoint counters, timber cutting and paint mixing, and click & collect and home and bulk delivery services at diy.ie.

The agreement for the stores is subject to landlord and customary regulatory approvals, with the expectation that the transactions will complete in the first quarter of Kingfisher FY 2025/26.

On completion of the acquisition, following a period of consultation with the employees at the three stores, they will become employees of B&Q.

B&Q CEO Graham Bell said: “We’re delighted to be adding these three stores to our fantastic store network.

“We’re determined to give home improvers the choice and convenience they deserve, and these locations need a home improvement store that fulfils their need.

“We look forward to swiftly concluding the purchase and converting the stores to the B&Q brand and offer, and to welcoming our new customers to the stores and new colleagues to the B&Q family.”