04:07 AM EDT, 07/31/2026 (MT Newswires) -- J Sainsbury (SBRY.L), d/b/a Sainsbury's, said Friday it agreed to sell multichannel retailer Argos for cash proceeds of at least 120 million pounds sterling. The British supermarket chain is selling the business to Swift Whistle Midco, a new company with backing from leaders and specialist investors in the retail sector. It said the deal is in line with its strategy of focusing on its core food business and is expected to be low single-digit accretive to its underlying EPS. The deal covers Argos as well as a distribution center in Daventry, UK, and sourcing offices in Shanghai and Hong Kong. Swift will also assume the leases on Argos' property portfolio. Completion of the deal is expected in February 2027. The seller will receive at least 70 million pounds on completion and 50 million pounds over the following three years.

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