The owner of The Range and Wilko has secured a new £190m credit facility, paving the way for investment in new stores and technology.
CDS Superstores, which also owns Homebase and Bathstore, said it would use the financing to continue a rollout of new format ‘The Range Superstores’, as well as enhancing AI search capabilities on its online marketplace.
The credit facility has been secured with Wells Fargo Capital Finance alongside HSBC and Citi, and more than doubles a previous arrangement.
CDS acquired Homebase from administration in 2024, including the brand name and up to 70 stores. It has since converted 57 of the sites to The Range, preserving more than 1,600 jobs, while also rolling out Homebase-branded garden centres and kitchen departments across its estate.
The new financing will fund further expansion, following recent openings in Upton and Alnwick, according to the company.
CDS said it had also recently added new AI capabilities to the search facility on The Range’s online marketplace, powered by the Google Cloud service Agent Search on the Gemini Enterprise Agent Platform. It follows an upgrading of the marketplace with enhanced AI in partnership with French software provider Mirakl in April this year.
Other recent milestones for CDS include bringing its national distribution network in-house and expanding a strategic relationship with Amazon Web Services to strengthen its digital infrastructure and accelerate innovation, according to the company.
“Everything we do is focused on giving customers more of what they want, where they want it and when they want it,” said CDS CEO Alex Simpkin.
“This facility gives us the confidence and flexibility to continue investing at pace while maintaining the value, choice and convenience our customers expect.
“We appreciate the support and expertise demonstrated by Wells Fargo Capital Finance throughout the process and look forward to building on this successful partnership.”
CDS CFO Jamie Messham said: “This new facility is more than double our previous arrangement and provides significant financial flexibility as we continue investing across every part of the business.”
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