Dunelm has announced that it has reached an agreement to purchase the assets of the WS Group for a total of £8.5 million. Dunelm hopes the new acquisition will accelerate the growth of its online operation.

The WS Group consists of Worldstores, Worldstores Kiddicare and Achicha – which combined generates annual revenues of around £100 million and has 650 employees. The WS Group management, including the founders, will remain in charge.

Dunelm plans to inject up to £15 million into WS Group in the coming months to fund historic working capital and to manage disruption for suppliers and customers.

John Browett, CEO of Dunelm, commented: “We are excited by this opportunity to accelerate the growth of our internet operation, more than doubling its size, and enhancing our position as the destination Homewares retailer in the UK, both online and offline.

“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.”

Richard Tucker and Joe Murray, founders of Worldstores’, added: “We are delighted to be working with Dunelm, in whom we have found a partner who shares our vision for our company and brands, and is backing our ambitious plans for growth.”

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