# UK’s Sainsbury’s agrees deal to acquire 10 Homebase stores
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-08-30
Category: Business
Category URL: https://startupobserver.com/category/business/
Meta Title: Sainsbury's Acquires 10 Homebase Stores to Expand Supermarket Coverage
Meta Description: Sainsbury's secures 10 key locations from Homebase to bolster its supermarket presence across England, Northern Ireland, and Scotland. Opening summer 2023.
URL: https://startupobserver.com/uks-sainsburys-agrees-deal-to-acquire-10-homebase-stores/

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LONDON (Reuters) – Britain’s second-largest supermarket group, [Sainsbury’s](https://startupobserver.com/shares-in-uk-chain-sainsburys-jump-11-on-report-of-buyout-interest/), said on Thursday it had agreed to acquire 10 leasehold stores from home improvement retailer Homebase to covert into supermarkets.

Sainsbury’s said the acquired stores were in key target locations that would grow its supermarket coverage across England, Northern Ireland and Scotland.

The transaction is expected to complete early next month with a gross investment value of about 130 million pounds ($171 million). The first of the stores will be opened next summer, with all sites expected to be converted by the end of 2025.

The supermarket group said the new [stores](https://startupobserver.com/ikea-plans-new-u-s-stores-in-2-2-billion-push-to-challenge-walmart-and-wayfair/) would add about 235,000 sq ft (21,832 sq m) to its trading space, and create about 1,000 new Sainsbury’s jobs.

($1=0.7584 pounds)

(Reporting by Kylie MacLellan; Editing by Clarence Fernandez)


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