Homebase owner Hilco Capital has been approached by The Range over acquiring the DIY chain, as it gears up to launch a sale of the company.
While city sources said the talks were not guaranteed to lead to a deal, analysts indicated if they did, The Range would like want the majority of the business’s circa 140 stores, Sky News reported.
A formal sale process involving other potential bidders is forecast to begin in the following days, one insider revealed.
The DIY giant has stores in Ireland as well as the UK, with the two arms potentially being sold separately.
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B&M European Value Retail is one business that has previously been touted as a potential bidder for the home improvement retailer.
In February, Homebase was put up for sale for the second time within four years, after Hilco Capital purchased the group for £1 in 2018.
The investment firm initially put Homebase up for sale in 2020 in a bid to capitalise on the pandemic boom for home improvement companies.
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