20 November
2024
Dunelm Group
plc
Acquisition of Home
Focus
Dunelm Group plc ("Dunelm" or "the
Group"), the UK's leading homewares retailer, announces that it has
acquired Homefocus Group Limited ("the acquisition").
Homefocus Group Limited ("Home
Focus") is a soft furnishings retailer which trades under the 'Home
Focus at Hickeys' brand, with 13 stores trading in high-quality
locations across the Republic of Ireland. The business also
operates online, providing home delivery and a 'Click &
Reserve' option for customers to collect products in-store. With a
focus on fabrics, the brand specialises in specific home categories
including curtains and bedding. We look forward to welcoming Home
Focus' c.140 colleagues to the Dunelm family.
The acquisition is an attractive
opportunity for Dunelm to connect with more customers by entering a
new geography, with a homewares market of more than £1bn1. The
acquisition immediately provides the Group with good coverage
across the Republic of Ireland, through Home Focus' portfolio of
smaller stores (<10,000 sq ft). Dunelm sees potential to offer a
broader range of products in Home Focus stores, in line with the
Group's existing smaller format stores in the UK, giving customers
more choice and a more comprehensive offer for the home.
Dunelm also sees opportunity to
introduce a more comprehensive online proposition and, over time,
will assess new store opportunities across
Ireland.
The acquisition will not be material
to Dunelm's financial performance and the Group will utilise its
existing operations, capabilities and supply partners to strengthen
the customer offer of Home Focus.
Nick Wilkinson, CEO of Dunelm, commented:
"In Home Focus we have found a high-quality and complementary
business, with a shared heritage in home textiles and strong values
which stem from family ownership. We've really enjoyed getting to
know the team and look forward to welcoming them to the Dunelm
family as we work together to further develop and invest in their
specialist home proposition.
"We see a clear opportunity to introduce more choice and value
into the offer which Home Focus has built for its customers. With
an established national store footprint and expertise in mutual
growth areas like Made to Measure, we're confident that Home Focus
will help us to continue unlocking our full
potential.
"We're proud to be embarking on this journey with Home Focus
and investing in the next stage of its story, where we look forward
to providing further opportunities for colleague development,
creating additional jobs, and supporting local
communities."
Ian
Donnelly, Managing Director of Home Focus, added:
"With around 80 years in business, we have been looking for a
new custodian to take Home Focus into its next chapter. Dunelm
immediately struck us as having a clear cultural fit, with a strong
team guided by sound values and focused on investing for long-term
growth.
"We're confident that Dunelm's experience as a multi-channel
retailer, together with its ability to offer a wider assortment of
products across multiple home categories, will offer both our
colleagues and customers an even better proposition as we move
forward."
1GlobalData
homewares market for Ireland (June 2024)
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Notes to
Editors
Dunelm
Dunelm is
the UK's market leader in homewares with a purpose
'to help create the joy of truly feeling at home, now and for
generations to come'. Its specialist customer proposition offers
value, quality, choice and style across an extensive range of
c.85,000 products, spanning multiple homewares and furniture
categories and including services such as Made to Measure window
treatments.
The business was founded in 1979 by
the Adderley family, beginning as a curtains stall on Leicester
market before expanding its store footprint. The business has grown
to 184 stores across the UK and has developed a successful online
offer through dunelm.com which includes home delivery and Click
& Collect options. 155 stores now include Pausa coffee shops, where customers
can enjoy a range of hot and cold food and drinks.
From its textiles heritage in areas
such as bedding, curtains, cushions, quilts and
pillows, Dunelm has built a comprehensive offer as The
Home of Homes including furniture, kitchenware, dining, lighting,
outdoor, decoration and DIY. The business predominantly sells
specialist own-brand products sourced from long-term, committed
suppliers.
Dunelm is headquartered
in Leicester and employs c.11,500 colleagues. It has been
listed on the London Stock Exchange since October
2006 (DNLM.L) and the business has returned c.£1.5bn in
distributions to shareholders since IPO.
Home Focus at Hickeys
The Home Focus at Hickeys brand
offers a wide range of fabrics, ready-made curtains, curtain poles,
blinds, bedding, haberdashery and craft supplies, alongside a
bespoke Made to Measure curtains service.
The 13 Home Focus stores are located
in Dublin (6 stores), Cork, Limerick, Galway, Kerry, Waterford,
Wexford and Kilkenny.
The business has its head office and
warehouse facilities located in Dublin.