Dunelm Group subsidiary Globe Online has acquired the Worldstores Group in its entirety for a consideration of £8.5 million. Worldstores has annual revenues of around £100 million and sells under the Worldstores, Achica and Kiddicare brands. The deal will effectively double online revenues at Dunelm and it will aim to share product ranges and extend its multichannel proposition. Worldstore founders Richard Tucker and Joe Murray will continue to lead Worldstores but it has not been revealed whether there will be any rationalisation potentially affecting any of the 650 Worldstores employees.
Dunelm CEO John Browett commented, “Between the store network, broad product range and strong brand that Dunelm has built and Worldstores’ extensive homewares and furniture offer and unique platform for next-day delivery and flash sales, we will strengthen our leading position as the UK’s Home of Homes.”
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