JB will acquire 100% of the privately-held Good Guys as part of a binding agreement established today.
“The Good Guys is a high quality Australian retailer with an excellent track record. We are very impressed by what the owners and management have achieved with the business since its establishment and the leading market position they have created. The acquisition is a very attractive strategic opportunity for JB Hi-Fi since The Good Guys is a highly complementary business which is aligned with our management philosophy and significantly enhances our offering in the $4.6 billion home appliances market,” said JB Hi-Fi CEO Richard Murray.
“Importantly, Michael Ford, CEO of The Good Guys, has agreed to continue his leadership The Good Guys under JB Hi-Fi ownership. We are very pleased to welcome Michael and his executive team and look forward to working together to create a market leading consumer electronics and home appliance retail group.”
It’s unlikely you’ll see video game sales at The Good Guys, but hey — you never know. We’ll keep you posted.
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