Howdens has agreed to acquire DIY Kitchens for £390 million, paying £292.5 million in cash and £97.5 million in shares. The deal gives Howdens access to a part of the kitchen market it has largely ignored until now: consumers who prefer to design, plan and order their kitchens themselves online rather than through a trade professional. DIY Kitchens generated £136 million of revenue and £37 million of EBIT in 2025, delivering an impressive 27% margin, while the acquisition values the business at around 8.5x trailing EBITDA.

The strategic logic is straightforward. Howdens' trade-only model has been highly successful, but it does not directly serve the growing number of consumers who want a self-service online experience. DIY Kitchens fills that gap. The business combines online design and ordering tools, made-to-order manufacturing, low overheads and customer prepayments, creating a highly profitable and cash-generative model that complements rather than competes with Howdens' existing depot network.

Importantly, DIY Kitchens will continue to operate independently as an online-only business focused on non-trade customers. While both companies share similar strengths, including vertical integration, manufacturing expertise and scalable operations, they serve very different customer groups. Together, Howdens believes it will own two of the strongest business models in the UK kitchen industry, each targeting a distinct route to market.

The acquisition is expected to be immediately accretive to revenue, margins and earnings per share, while allowing Howdens to maintain a strong balance sheet and continue its previously announced £100 million share buyback programme. As CEO Andrew Livingston put it: "The acquisition of DIY Kitchens, which will be operated on a standalone basis, 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."