1 month ago
Sainsbury's Sells Argos to Swift Partners for £120 m
Sainsbury's, a big supermarket chain, decided to sell its Argos shop chain to a new company called Swift Partners for £120 million.
The sale will finish in February 2027, and nothing will change for people who shop at Argos or work there right now.
Swift Partners, led by former Co‑operative chief Richard Pennycook, thinks Argos can grow more.
Sainsbury's wants to focus on selling food, because Argos sales have been a little lower.
The union that represents many Argos workers is a bit worried but is happy that Swift Partners will keep the same number of stores and delivery centers.
This deal is a new chapter for Argos, which has been part of Sainsbury's for almost ten years.
Sainsbury's agreed to sell Argos to Swift Partners for £120 million, ending a decade-long ownership that began with a £1.4 billion acquisition.
The sale will complete in February 2027, with no immediate changes for customers, staff or suppliers; Argos stores inside Sainsbury's supermarkets will continue to operate.
Swift Partners, led by former Co‑operative Group chief executive Richard Pennycook, plans to invest in Argos and sees “real opportunities” for growth.
The deal reflects Sainsbury's shift to focus on its core grocery business after Argos sales slipped 0.5 % in the latest quarter.
The union Usdaw welcomed Swift's commitment to keep the current mix of stores and fulfilment centres but noted uncertainty for employees.
- Who
- Sainsbury's, Argos, Swift Partners, Richard Pennycook, Usdaw
- What
- Sale of Argos to Swift Partners
- Where
- United Kingdom
- When
- Announced now, completion February 2027
- Why
- Sainsbury's to focus on groceries; Argos seen as weak fit
Key facts
- Seller
- Sainsbury's
- Buyer
- Swift Partners
- Sale price
- £120 million
- Completion date
- February 2027
- Number of Argos stores
- 667
- Argos stores inside Sainsbury's
- 466
- Standalone Argos stores
- 201
Sources
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