Sainsbury's sells its Argos business to Swift Partners for £120million

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.

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.

The deal will include Argos standalone stores and those within Sainsbury’s shops

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

The deal will include Argos standalone stores and those within Sainsbury’s shops.

The deal will include Argos standalone stores and those within Sainsbury’s shops.

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

Economy alert: Sainsbury's to sell Argos in major £120million deal  GB News

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

The deal will see Argos stores and collection points sold to Swift Partners, a new company which has been set up for this acquisition

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.