Homebase ECONOMIC

Supply Chain & Sourcing Relationships

• Homebase currently lists Keter-branded garden-storage products for home delivery and/or click-and-collect, evidencing downstream retail availability of finished Keter goods.¹

• The current September 2026 listing establishes retail availability after 19 July and November 2024, but does not identify Homebase’s contractual supplier, importer of record, country of manufacture, shipment route, direct procurement relationship, or royalty arrangement.¹

• Homebase’s customer-support materials state that online orders can be sold and shipped by homebase.co.uk or delivered directly by a supplier; they do not identify Keter, an importer, or the applicable fulfilment model for individual Keter listings.²

• Keter UK’s 2024/25 modern-slavery statement describes Keter Group as a manufacturer and marketer selling through more than 25,000 retail outlets, but does not name Homebase, CDS, a distributor, or contractual terms.³

• Keter UK Limited operates Keter’s UK website and is an active English company, but the available records do not establish that it supplies Homebase, imports the listed goods, owns the Keter trademark, or licenses it to Homebase.^{4, 5, 6}

• No public evidence identified of a Homebase/CDS purchase order, supply agreement, invoice, customs record, product-specific importer declaration, distribution agreement, trademark licence, royalty arrangement, shipment record, transfer-pricing record, or payment flow connecting the listed goods to Keter UK, Keter Group Holding Limited, an Israeli Keter entity, or an independent intermediary.^{1, 2, 4, 5}

• A 2016 Who Profits report stated that Keter had operated a factory in the Barkan industrial zone in the occupied West Bank, while its November 2016 field visit found visual indications that Keter no longer operated there.⁷

• The Keter report characterises the former Barkan activity as ceased or of unknown status after 2016, rather than establishing current settlement-linked production.⁷

• No public evidence identified of Homebase procurement from Mehadrin, Hadiklaim, Galilee Export, Agrexco successors, another named Israeli agricultural exporter, dedicated Israeli produce distribution, seasonal Israeli produce procurement, or a Homebase-owned Israeli import entity.^{1, 8, 9}

Product Origin, Labeling & Regulatory Compliance

• Homebase’s current Keter listing does not establish the origin of the listed products or connect a listed item to the former Barkan facility, Karmiel, or another Keter facility.^{1, 7, 10}

• Keter’s 2021 SEC filing described Karmiel, Israel facilities manufacturing sheds and other product categories for global export, while Keter’s 2024 sustainability report reports two Karmiel manufacturing sites; neither source identifies the manufacturing origin of a specific current Homebase SKU.^{10, 11}

• Keter’s Israel “About” page states that four of approximately 14 manufacturing sites are in Israel, but this reported group footprint does not establish that any Homebase-listed Keter product was made in Israel, the West Bank, the Golan Heights, or a specified plant.¹²

• No public evidence identified of a regulator, customs authority, DEFRA action, or court proceeding naming Homebase in relation to settlement-origin labelling or goods labelled “Produce of Israel.”^{1, 7}

• No public evidence identified of a Homebase public policy specifically addressing sourcing from, or country-of-origin labelling for, occupied or contested territories.^{1, 2}

• The available evidence supports a retail-listing relationship only and does not establish that Homebase manufactures goods in Israel or the occupied Palestinian territory.^{1, 7}

• The post-July and post-November 2024 Keter listings establish continued retail availability only; they do not establish continued settlement-origin production, a settlement operation by Homebase, or sourcing from the former Barkan facility.^{1, 7}

Investment, Capital & Financial Exposure

• CDS (Superstores International) Limited is an active English private limited company incorporated on 20 March 1992, with its registered office at 15 William Prance Road, Plymouth, and SIC 47190 for other retail sale in non-specialised stores.⁸

• CDS’s latest filed accounts were made up to 2 February 2025, and its latest confirmation statement is dated 21 August 2026.⁸

• HOMEBASE LIMITED, company number 16777483, records CDS as its sole active person with significant control, holding more than 75% of shares and voting rights and the right to appoint or remove directors from 10 October 2025.⁹

• HOMEBASE LIMITED is an active English private company incorporated on 10 October 2025 at the Plymouth CDS address, classified as dormant with SIC 99999; its incorporation records £1 stated capital and model articles, and its first accounts are not due until July 2027.^{13, 14}

• The register evidence does not itself establish that HOMEBASE LIMITED is the contracting operator for every present Homebase activity.^{9, 13}

• CDS records Norton Group Holdings Limited as a person with significant control holding more than 75% of CDS shares and voting rights, with the right to appoint or remove directors, from 29 April 2026.¹⁵

• Norton Group Holdings Limited is an English private holding company incorporated on 27 April 2015, registered at the same Plymouth address and classified under SIC 64209.¹⁶

• Sarah Jane Dawson holds more than 75% of Norton Group Holdings Limited’s shares, while Christopher Frederick Dawson is recorded as exercising significant influence or control over Norton.¹⁷

• Norton’s register records Sarah Dawson’s residence as Monaco and Christopher Dawson’s as England; it does not establish either individual’s tax residence or beneficial interests outside the disclosed UK chain.¹⁷

• Norton’s 2025 group accounts were filed for the period ended 2 February 2025, but the bounded review could not retrieve the document image and therefore does not draw a subsidiary-list, financing, or Israel-related conclusion from them.¹⁸

• No public evidence identified of direct Homebase, CDS, Norton, or former HHGL-group investment in Israel or the occupied territories, Israeli subsidiaries, Israeli R&D sites, Israeli sovereign-bond holdings, Israel-focused funds, or Israeli tax/PTE status.^{8, 9, 19, 16}

• A complete current CDS subsidiary list, ownership percentages, financing information, and group-account disclosures were not available within the reviewed filing material.^{20, 18}

• The Irish Competition and Consumer Protection Commission recorded a proposed acquisition by The Range (Ireland) Limited of leasehold interests, businesses, and assets in two Homebase Ireland and three Homebase UK stores; its determination does not identify Israel-related operations, ownership, taxation, or investments.²¹

Operational Presence & Market Activity

• CDS stated that it acquired the Homebase brand, intellectual property, and up to 70 UK stores on 13 November 2024.²²

• CDS stated that the Homebase brand would continue online and that acquired stores would initially trade as Homebase before conversion to The Range.²²

• The UK Insolvency Service reported that HHGL Limited and Hampden Group Limited entered administration on 13 November 2024 and that administrators immediately completed the sale of up to 70 UK stores, the Homebase brand, and intellectual property to CDS Superstores.²³

• At the time of administration, the affected historical Homebase estate comprised approximately 133 UK stores and 3,600 employees, while the transaction was expected to secure approximately 1,600 jobs.²³

• Homebase’s customer information distinguishes orders placed before 21 January 2025 as relating to the prior HHGL administration and states that current online orders may be sold and shipped by homebase.co.uk or directly by a supplier.²

• No public evidence identified of Homebase-operated offices, shops, warehouses, support centres, employees, tax registration, franchises, licensees, or an operating subsidiary in Israel or the occupied territories.^{8, 9, 2}

• No public evidence identified of Homebase identifying Israel as an export, growth, or strategic market in the reviewed corporate and Homebase materials.^{8, 2}

• Keter’s current materials report an Israeli operating footprint, including headquarters and R&D centres in Israel, approximately 2,500 Israel-based employees, and manufacturing sites in Israel; these Keter-group statements do not establish a Homebase operational presence in Israel.^{11, 3, 12}

Corporate Structure & Foundational Ties

• Homebase’s customer-service page states that Homebase is a trading style owned by CDS (Superstores International) Limited.²

• Homebase’s privacy policy identifies CDS Superstores International Ltd, trading as The Range, as owner of homebase.co.uk and data controller for that website; its footer identifies CDS trading as Homebase for a restricted finance-broker service.²⁴

• HHGL Limited, a historical Homebase-group entity, is a UK private limited company incorporated on 8 May 1954 and was previously named Homebase Limited between 1996 and 2016.²⁵

• HHGL entered administration on 13 November 2024 and should not be conflated with the present CDS-owned Homebase trading style without transaction-specific evidence.^{23, 2, 26}

• Christopher Frederick Dawson is a current CDS director and is recorded as a person with significant influence or control at CDS alongside Sarah Jane Dawson.^{15, 19, 27}

• Companies House records Christopher Dawson’s directorships in Norton Group Holdings Limited, Wilko.com Limited, The Range (Ireland) Limited, CDS Group Services Limited, and other group-related entities, although those appointments do not by themselves establish that each entity is a CDS subsidiary.¹⁹

• No public evidence identified that Homebase was founded or incorporated in Israel, is Israeli tax-resident, maintains headquarters in Israel, has Israeli state ownership, or is tied to Israeli state-governance mechanisms.^{8, 9}

• Keter Group Holding Limited became Keter Group’s wholly owned UK-based holding company during 2024, according to Keter’s 2024 sustainability report.¹¹

• Keter Group Holding Limited is an active English private holding company incorporated on 5 April 2024 with a Banbury registered office; its PSC register states that it knows of no registrable person or registrable relevant legal entity, and records GLAS Trustees Limited as a ceased PSC ending 29 April 2024.^{28, 29}

• Keter’s 2021 SEC filing identified Keter Group S.A. as a Luxembourg-incorporated company and described historical group subsidiaries including Keter Group B.V., Israeli Keter entities, and Keter UK Ltd.; that filing does not establish the current trademark owner, current ownership percentages, or the current entity supplying Homebase.^{10, 30}

• Bloomberg Law reported in March 2024 that senior lenders had taken 100% ownership of Keter Group B.V. and subsidiaries, citing an emailed company statement; this independent report does not name the lender group or establish the current beneficial owner of the Keter trademark.³¹

• No public evidence identified that names the legal entity owning or licensing the Keter trademark specifically for Homebase’s current listings, or establishes the relevant brand owner’s tax residence, current beneficial ownership, or trademark-specific profit destination.^{1, 10, 11, 4, 31}

• The supplied document review found no mention of Homebase in the 2025 OHCHR settlement-business database or the 2025 UN Special Rapporteur report cited in the research record, which is a document-scoped result rather than a database-wide absence conclusion.^{32, 33}

Profit Repatriation & Economic Contribution

• No public evidence identified of Homebase revenue attributable to Israel, Israel-to-UK or UK-to-Israel profit repatriation, or an Israeli-sector designation.^{8, 9, 20}

• No public evidence identified of an Israeli acquisition price, Israeli manufacturing subsidiary, Israeli market revenue, Israeli sovereign-bond exposure, or Israeli or settlement operations.^{8, 9, 20}

• Keter’s 2024 sustainability report provides geographic sales shares of 51% Europe, 42% North America, and 7% elsewhere, but does not provide country-level profit allocation, dividend flows, royalty amounts, or profit repatriation information attributable to Keter sales.¹¹

• Historical 2021 SEC disclosures record Israeli operational and intra-group financial links, including Israeli tax-authority reviews, intercompany capital notes, and an Israeli-law pledge over shares in an Israeli subsidiary; those disclosures do not trace proceeds from Homebase sales or establish current payment flows.¹⁰

• No public evidence identified that Homebase’s Keter retail proceeds reach an Israeli operating entity, rather than Keter UK, Keter Group Holding Limited, or an independent intermediary; conversely, no reviewed evidence establishes that such proceeds do not reach an Israeli-integrated Keter entity.^{1, 2, 11, 4, 5}

• No public evidence identified in the bounded review of political contributions, lobbying registrations, Israel/Palestine-focused charitable support, or relevant public statements by Homebase, CDS, Christopher Dawson, Sarah Dawson, or Group CEO Alex Simpkin.^{22, 24}

• No verified Homebase or CDS response, policy, donation, or advocacy statement concerning the post-19 July 2024 ICJ advisory-opinion period or post-November 2024 ICC-warrant period was identified in the reviewed sources.^{22, 24}

• The reviewed materials do not provide a basis to quantify any Israeli economic contribution, tax payment, employment footprint, supplier expenditure, or profit flow attributable to Homebase.^{8, 9, 20}