Home Retail buys slice of Habitat for £24.5m
Home Retail Group has announced that it has bought parts of the Habitat chain for £24.5m.
The Argos and Homebase owner has bout the rights are for the exclusive use of the Habitat brand, its brand designs and intellectual property in the UK and the Republic of Ireland.
It has also acquired the Habitat UK website, three of its London stores and certain brand support functions.
Habitat has appointed administrators for its other 30 outlets, which would continue trading for now
Home Retail Group chief executive Terry Duddy said: “The style led credentials of the Habitat brand, with its strong heritage, will be a significant addition to the Group’s portfolio of own brands.
“In addition to operating the three London stores and the UK website, we will introduce Habitat products across the Group including a number of concessions in Homebase stores. We will also look to develop the online proposition leveraging the award-winning multi channel strength of Home Retail Group.”