Sainsbury’s to sell Argos to three retail veterans in £120m deal
Sainsbury's has agreed to sell its Argos retail chain to Swift Partners for £120 million. The move is intended to allow the supermarket giant to focus exclusively on its core food business.
Why it matters
This divestment represents a major strategic pivot for one of the UK's largest retailers, reversing a significant acquisition made in 2016.
Sainsbury’s bought Argos in 2016 as part of the Home Retail Group in a £1.3bn deal. Sainsbury’s bought Argos in 2016 as part of the Home Retail Group in a £1.3bn deal. Retail industry Sainsbury’s to sell Argos to three retail veterans in £120m deal Trio set up Swift Partners for the acquisition, allowing supermarket to focus on core food business
Prefer the Guardian on Google 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 veterans, a decade after buying the company for more than £1bn .
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