HomeBase, Builders Square merger in the works
Article Abstract:
Kmart Corp. and Waban Inc. may combine their Builders Square and HomeBase hardware stores, a move that would create the home improvement industry's third-largest company, with combined annual revenues close to $4 billion. Buyout firm Leonard Green & Partners L.P. would own a majority interest in the new company, with Kmart and Waban retaining less than 20% each. Sales at Builder's Square's 168 stores fell 3.1% to $2.55 billion for the year ended Jan. 29, 1997; sales at HomeBase's 84 stores rose 0.5% to $1.45 billion for the year ended Feb. 1, 1997.
Publication Name: Home Improvement Market
Subject: Home and garden
ISSN: 0162-5896
Year: 1997
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Waban ends HomeBase, Builders Square merger talks
Article Abstract:
Waban executive Eileen Kirrane says that disagreements the company Leonard Green & Partners and Kmart over terms for a merger with Builders Square had prompted Waban to terminate talks. Some hardware industry officials say that it will be difficult for the two companies to survive as separate entities. The market is dominated by Lowe's and Home Depot and a merger would have created the US' third largest home center chain.
Publication Name: Home Improvement Market
Subject: Home and garden
ISSN: 0162-5896
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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