Sainsbury’s agrees deal to sell Argos for £120m - lbc.co.uk

Sainsbury’s agrees deal to sell Argos for £120m  lbc.co.uk

The supermarket will sell Argos for a fraction of the £1.4 billion price it paid to the chain’s previous owner Home Retail Group in 2016.

The supermarket will sell Argos for a fraction of the £1.4 billion price it paid to the chain’s previous owner Home Retail Group in 2016.

The supermarket will sell Argos for a fraction of the £1.4 billion price it paid to the chain’s previous owner Home Retail Group in 2016.

Trio set up Swift Partners for the acquisition, allowing supermarket to focus on core food business Sainsbury’s has agreed to sell the Argos retail chain for £120m to allow it to concentrate on its core food business. The supermarket announced on Friday it was selling the catalogue shopping business to a trio of retail

Sainsbury's will get cash proceeds of at least £120 million from the sale, with a £70 million up-front payment when the deal completes, which is expected in February next year.

Under the terms of the deal, Argos will still operate in Sainsbury's shops, sell Habitat products, and offer Nectar points.

Sainsbury’s has said it will sell long-struggling catalogue retailer Argos to a private equity-backed consortium in a £120m deal.  The supermarket giant said the sale will enable it to focus on its food business and deliver higher cash generations and healthier margins.  Sainsbury’s bought Argos a decade ago but the re

SAINSBURY'S has agreed to sell Argos as part of a £120million deal. The business will be sold off to Swift Partners, a new company formed by retail veterans Richard Pennycook, Trevor Strain and Matt Truman. Sainsbury's has been focusing more on its food business since its chief executive Simon Roberts took over in 2020

Sainsbury's has revealed it is selling Argos under a "business as usual" deal that will allow the company to concentrate on its core supermarket business.