Argos

Sainsbury’s has agreed to sell Argos to Swift Partners for £120 million, as part of its strategy to focus on its core food business.

Summary of transaction details:

• Value: £120 million
• Sector: Consumer Goods
• Advisor: Not disclosed
• Key Entities: Sainsbury’s, Argos, Swift Partners
• Location: UK

Note: The sale of Argos is expected to have a broadly neutral impact on Sainsbury’s underlying operating profit, with income from ongoing commercial agreements offsetting the lost Argos contribution.