JB Hi-Fi to buy The Good Guys for A$870m

Good Guys

JB Hi-Fi has announced that it has entered into a binding agreement to buy whitegoods retailer The Good Guys for $870 million, acquiring 100 per cent of its privately-held competitor. The deal will see both retail chains continue largely separately in the eyes of customers, but behind the scenes will mean the two are more efficient, potentially driving prices down for consumers.

Wow, didn’t see that coming. But then I don’t really hang in consumer white good circles. Too rich for my blood!

Does this mean anything for you Joe Retail? Not really. Potentially some higher margins to haggle over when you “Pay less, pay cash”. The combined buying power for JB in the white goods space will be more than doubled.

Also the private owners of The Good Guys just got rich son! Damn.

Source: JB Hi-Fi Is Buying The Good Guys For $870 Million | Gizmodo Australia