22-July-2016

Sainsbury’s £1.4bn Takeover of Argos Gets Green Light

 

The acquisition of Argos owner Home Retail Group by Sainsbury’s has been cleared by the Competition and Markets Authority (CMA). Sainsbury welcomed the decision, with the deal now expected to complete in early September.

 

On 1 April 2016, Sainsbury’s and Home Retail announced they had agreed on the terms of a £1.4bn cash and share offer, consisting of 55p a share in cash for retail shareholders.  

 

Outside Sainsburys storeThe deal is set to broaden Sainsbury’s product range, creating a £6bn non-food operation with Argos stores moving into supermarkets across the country. Argos’s online delivery business will increase Sainsbury’s competitive stance, taking on John Lewis, Marks & Spencer and Amazon Fresh rivals.

 

 

Sainsbury's launches same-day grocery delivery service to rivial Amazon, raising the bar just one month after Amazon Fresh launched in the UK. 

 

Argos currently has more than 800 stores and notched up sales of more than £4bn for the year to the end of February.

 

 

Click here to find more information on till receipt advertising with Argos.