Sainsbury’s has acquired 10 leasehold stores from Homebase, for conversion into Sainsbury’s supermarkets.
A key ambition of the Next Level Sainsbury’s plan is to offer more food choice to more customers. The acquired stores are in key target locations that will grow Sainsbury’s supermarket coverage across England, Northern Ireland and Scotland.
The gross investment value of the acquisition, being the total capitalised cost of leases, acquisition premium and fit-out costs, is expected to be approximately £130 million.
The conversion of these sites into supermarkets is expected to create approximately 1,000 new Sainsbury’s roles. Sainsbury’s will guarantee an interview for any Homebase colleagues who are placed at risk of redundancy as a result of this transaction.
Simon Roberts, ceo, Sainsbury’s said: “Sainsbury’s food business continues to go from strength to strength as we push ahead with our Next Level Sainsbury’s plan. We have the best combination of value and quality in the market and that’s winning us customers from all our key competitors and driving consistent growth in volume market share. We want to build on this momentum which is why we are growing our supermarket footprint.”
