Sainsbury's sells Argos to Swift Partners for £120m

Sainsbury's has agreed to sell its Argos retail chain to the newly formed company Swift Partners for at least 120 million pounds, the supermarket announced on July 31, 2026. The deal, expected to be completed in February 2027, marks a strategic shift for Sainsbury's as it seeks to concentrate fully on its core food business.

The sale includes Argos's standalone stores, its collection points, and its presence inside Sainsbury's supermarkets. Swift Partners will also acquire Argos's pet insurance and product warranty operations, a Sainsbury's distribution centre in Daventry, and the company's sourcing offices in Shanghai and Hong Kong. Sainsbury's will receive an upfront cash payment of 70 million pounds upon completion, with total proceeds reaching at least 120 million pounds.

Sainsbury's Chief Executive Simon Roberts stated the sale follows a period of careful consideration about Argos's future. He said Sainsbury's has transformed Argos into a leading multichannel retailer but that the agreement allows Sainsbury's to focus all its resources on the opportunities within its food division. He sought to reassure stakeholders, emphasizing it would be business as usual for Argos...