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Sainsbury's agrees to sell Argos for £120m

The deal is expected to complete next February, with Argos continuing to operate in Sainsbury's shops.

Reported · Written up by our desk · M&A & Deals

Sainsbury's has agreed to sell Argos for £120m as it looks to focus on its core food business, according to BBC Business.

The buyer is Swift Partners, a newly created company that includes Richard Pennycook, a former Co-operative Group boss.

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

Sainsbury's said the change will be business as usual for customers, staff, and suppliers, and it expects the transaction to complete next February.

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