Sainsbury's agrees to sell Argos for £120mImage source, Getty ImagesByMitchell LabiakBusiness reporterPublished31 July 2026, 07:50 BSTUpdated 5 minutes agoSainsbury's has agreed to sell Argos for £120m as the supermarket chain aims to focus on its core food business.The buyer, Swift Partners, is a company which has been created to buy the brand and includes former Co-operative Group boss Richard Pennycook.Under the terms of the deal, Argos will still operate in Sainsbury's shops, sell Habitat pr... J Sainsbury Plc agreed to sell its struggling Argos general merchandise unit to Swift Partners, a new company backed by retailers including former Co-op boss Richard Pennycook. Key points and original sources are listed below.

• Sainsbury's agrees to sell Argos for £120mImage source, Getty ImagesByMitchell LabiakBusiness reporterPublished31 July 2026, 07:50 BSTUpdated 5 minutes agoSainsbury's has agreed to sell Argos for £120m as the supermarket chain aims to focus on its core food bu...S1

• J Sainsbury Plc agreed to sell its struggling Argos general merchandise unit to Swift Partners, a new company backed by retailers including former Co-op boss Richard Pennycook.S2

• The deal will see Argos stores and collection points sold to Swift Partners, a new company which has been set up for this acquisitionS3