MoneySainsbury'sThe deal will see Argos stores and collection points sold to Swift Partners, a new company which has been set up for this acquisitionS P Jones07:28, 31 Jul 2026Updated 07:52, 31 Jul 2026Sainsburys has agreed to sell Argos for at least £120million to focus on its food business.‌The deal will see Argos stores and collection points sold to Swift Partners, a new company which has been set up for this acquisition.‌But the supermarket said it is "business as usual" for Argos, which will continue to trade as normal. Argos operates through standalone stores, stores inside Sainsbury's, online delivery and collection points.‌In addition, Swift will acquire Sainsbury's distribution centre located in Daventry and Sainsbury's sourcing offices located in Shanghai and Hong Kong. The deal is expected to complete in February 2027.‌Simon Roberts, Chief Executive of J Sainsbury plc, said: "Swift brings retail leadership, operational expertise, technology capability and long-term investment, alongside a deep commitment and belief in the future potential for Argos customers and colleagues."Richard, Trevor and Matt understand and value the Argos brand, share our values and will accelerate Argos's transformation through their dedicated expertise and long-term investment."I would like to thank Argos colleagues for all of their commitment and hard work. Today is an important next step in building the strongest future for Argos and I would like to reassure our colleagues, customers and suppliers that it's business as usual."Article continues belowRichard Pennycook, Swift Partners, said: "We hold Argos senior management in high regard and plan to build on its strengths - bringing additional experience and skills to complement and augment the existing team. We see clear potential to strengthen Argos's customer proposition, digital capabilities and nationwide reach."Choose Daily Mirror as a 'Preferred Source' on Google News for quick access to the news you value.‌Breaking NewsArgosSainsbury's