The retailer purchased rival Texas Homecare in January 1995, which helped grow its market share to third place, behind B&Q and Focus.

In January 2016, Wesfarmers purchased Homebase in a botched attempt to convert the stores to its Bunnings Warehouse format, ultimately losing £1 billion in total.

Subsequently, Hilco announced that it would close 42 of the chain's stores, and cut 1,500 jobs through a company voluntary arrangement (CVA), in an attempt to return it to profitability.

By February 2020, Homebase had 164 outlets and had returned to profitability earlier than expected, with Hilco listing the retailer for sale in November 2020.

Teneo is operating the remaining estate of Homebase locations in closing down sales, whilst seeking potential buyers.

In August 2000, the former chief executive of Texas Homecare, Ron Trenter, made an ultimately unsuccessful bid for Homebase.

[16] In October 2007, Home Retail Group agreed the purchase of 27 leasehold properties from Focus DIY, to be bought for £40 million in cash.

In July 2013, Home Retail Group said the stores in Ireland had not made a profit in the previous five years, and that it intended to close three of the fifteen.

The new look stores had a Decorating Ideas and Advice Centre, offering touch screen technology, to help customers transform the look of rooms in their homes.

[19] On 18 January 2016, it was announced that Australian retailer Wesfarmers, owners of Australia's leading hardware store Bunnings, would acquire Homebase for £340 million, subject to shareholder approval.

[20] The transfer of ownership to Wesfarmers took place on 27 February 2016[21] and afterwards Peter Davis was appointed Managing Director, succeeding Echo Lu.

[22] Wesfarmers announced in June 2016 that it had cancelled the plans by Home Retail Group to close seven stores, and would seek to prevent the closure of eleven others.

[28] In February 2018, Wesfarmers reported losses relating to the takeover of £57 million in the year to June 2017, and stated that it would begin a review of the business.

At the end of August 2018, a company voluntary arrangement (CVA) proposed by Hilco to close 42 stores, and reduce rent on others, was approved by Homebase's creditors.

[43] In the same month, it was reported that Homebase had made heavy losses in the previous year, with Hilco continuing to look for a buyer, and that B&M European Value Retail and CDS (Superstores International) (owner of The Range and Wilko) had been approached regarding takeover deals.

[44] In July 2024, it emerged that CDS had approached Hilco Capital regarding a Homebase takeover deal, with an insider revealing that a formal sale process was due to begin within the next few days.

[56] On 6 January, it was announced that B&Q had purchased five stores (Altrincham, Basingstoke, Biggleswade, Leamington Spa and Worcester), with plans to convert them to B&Q outlets in Spring 2025.

[57] On 20 January, it was announced that 13 stores – Bradford, Broadstairs, Cheltenham, Colchester Stanway, Coventry, Derby Chaddesden, Gloucester, Hull Hessle, London Streatham Vale, Oban, Oldbury, Romford and Wolverhampton – would close at unspecified future dates.

Morrissey and Ash were the face of the brand for six years, until March 2005, when Homebase launched a series of new advertisements created by AMV BBDO, featuring the new slogan "Make a house a home.

The offending poster depicted a number of volunteer staff at the Haringey branch and was captioned: "How the work experience programme can benefit your store.