Sainsbury's sells Argos for £120m to focus on its food business
Sainsbury's will dispose of Argos for £120m, a decade after its £1.3bn acquisition, as it shifts focus to its primary grocery business. Swift Partners, a new firm, counts Richard Pennycook, previously the Co-operative Group boss, among its members. Argos will continue to operate inside Sainsbury's shops, sell Habitat items, and offer Nectar points.
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