Howden Joinery buys DIY Kitchens to enter online direct retail market

(Alliance News) - Howden Joinery Group PLC on Wednesday said it will buy online retailer DIY Kitchens, through which it will be able to access non-trade customers for the first time.

The London-based kitchen and joinery supplier said it agreed to acquire online retailer DIY Kitchens for an enterprise value of GBP390 million. The consideration comprises GBP292.5 million in cash and GBP97.5 million in new Howden shares at a price of 766 pence per share.

Howdens shares were up 3.1% to 778.00 pence each on Wednesday morning in London. The FTSE 100 stock has a GBP4.20 billion market capitalisation.

DIY Kitchens generated GBP37 million in earnings before interest and tax on GBP136 million in revenue in 2025 and has achieved revenue growth of more than 17% every year for the past five years, Howden said.

The acquisition gives Howden direct access to non-trade consumers through DIY Kitchens' online-only model. The business will continue to operate separately from Howden's own larger trade only business following completion.

Howdens said the deal is expected to be immediately accretive to revenue, Ebit margin and earnings per share, and does not affect its previously announced GBP100 million share buyback programme for 2026. The company started the GBP50 million first tranche of that programme on Wednesday, which it said it will complete by the end of the year.

The transaction remains subject to regulatory approval. Howdens CEO Andrew Livingston said: "The acquisition of DIY Kitchens...adds a complementary very profitable, business to the group, providing access to non-trade end customers through its direct online channel with self-service planning, design and ordering tools."

Howdens said it retains a robust balance sheet following the acquisition.

By Tom Budszus, Alliance News slot editor

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