Bunnings has drafted in Boston Consulting Group to help advise its UK leadership as owners Wesfarmers continues to try and turnaround its UK business.
The appointment comes as Wesfarmers conducts a strategic review of Homebase/Bunnings stores following its £340m acquisition in 2016, with a decision due to be made on the business in June this year.
Boston Consulting Group has been brought in to advise boss Damian McGloughlin, with the news following Bunnings’ announcement last month that it will change its tagline by mid-April from ‘our policy is lowest prices are just the beginning’ to ‘your home improvement and garden centre’.
Investment bank Lazard has also been appointed to find buyers for the business, with reportedly private equity firms, including Hilco, Endless and Lion Capital, as well as bargain retailer B&M, considering a bid for the business.
As of the end of last year, Bunnings currently employed nearly 12,000 people in Britain across an estate of almost 250 stores.