Sainsbury's to sell Argos in £120 million deal that includes all 664 UK stores

Here's what it means for the supermarket giant10:41, 31 Jul 2026Sainsbury's has agreed to sell its Argos business in a deal worth a staggering £120 million. The move will see the supermarket move its focus to its "core food business."‌The supermarket giant purchased the catalogue retailer for £1.4 billion in 2016. Since then, it has gone on to become a "truly digital" and "multichannel business" that serves millions of customers online and in store.‌Following a decade long partnership, the deal will see Sainsbury's transfer ownership of Argos to Swift Partners. The buyer is a brand new company that was created specifically to purchase the retailer, led by Richard Pennycook - former Chief Executive of Co-op.‌Read more: Scottish town to lose main Post Office amidst TG Jones restructuring pla