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Sainsbury’s agrees £120m deal to sell Argos
Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleSainsbury’s has agreed to sell Argos for £120m (AFP/Getty)Sainsbury's has agreed to sell its Argos business to Swift Partners, a new firm established by retail specialists. The deal is valued at a minimum of £120 million and includes Argos standalone stores and its concessions within Sainsbury's shops. Swift Partners will also acquire Sainsbury's distribution centre in Daventry and sourcing offices in Shanghai and Hong Kong. The new firm, Swift Partners, was set up by retail experts including former Co-operative Group boss Richard Pennycook and ex-Morrisons chief operating officer Trevor Strain. Sainsbury's expects to receive an upfront payment of £70 million when the sale concludes, which is anticipated in February next year. In fullSainsbury’s to sell Argos in £120m dealMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
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mirror.co.uk
Sainsbury's to sell Argos business for £120million
The deal will see Argos stores and collection points sold to Swift Partners, a new company which has been set up for this acquisition
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cityam.com
Sainsbury’s to sell Argos in £120m private equity-backed deal
Sainsbury’s has said it will sell long-struggling catalogue retailer Argos to a private equity-backed consortium in a £120m deal.
