Sainsbury's agrees £120m deal to sell Argos

Sainsbury's £120m Argos deal explained: what it means for customers Sainsbury's is selling Argos, ten years after buying it for £1.4 billion, to a company named Swift Partners, newly set up by a group of retail veterans. The deal values Argos at just £120

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

Sainsbury’s has said it will sell long-struggling catalogue retailer Argos for £120m, a fraction of the £1.4bn it bought it for a decade ago. The supermarket giant has struck a deal with Swift Partners – a new company led by On the Beach chairman Richard Pennycook and former…

Sainsbury's has revealed it is selling Argos under a "business as usual" deal that will allow the company to concentrate on its core supermarket business.