BREAKING NEWS: Confirmed JB HI FI Has Aquired The Good Guys

Michael Ford Chief Executive Officer of The Good Guys has confirmed that JB Hi Fi is taking over the Company.

In a statement sent to The Good Guys staff and suppliers 20 minutes ago he wrote, The Good Guys has today entered into an agreement for the company to become fully owned by JB Hi-Fi.

As you know we had been working toward floating on the Australian Stock Exchange, however during this process JB Hi Fi expressed an interest in buying The Good Guys and presented a compelling offer that included a strategy to preserve what has made each brand great while combining the strengths of our respective companies.

Joining forces with JB Hi Fi makes enormous sense from every standpoint. We are bringing together two iconic Australian retail brands that both have tremendously strong and loyal customer bases. Our position and track record in home appliances is matched by JB Hi-Fi’s strength in consumer electronics and entertainment. Both brands stand for customer service, range and value and have always been at the forefront of their respective markets.

I would like to reassure you that this announcement does not impact how The Good Guys operates today. We will be running a dual brand strategy and will continue to trade as The Good Guys while JB Hi-Fi continues to trade as JB Hi-Fi. We will operate as independent brands, with our own unique consumer propositions and price promises.

As a trusted supplier partner, we wanted you to know about this announcement as soon as our internal teams were made aware.

I’m excited to be leading The Good Guys into this next phase of growth. The future for The Good Guys has never looked brighter and I have enormous confidence in our collective success.

About Post Author

David Richards

David Richards has been writing about technology for more than 30 years. A former Fleet Street journalist, he wrote the Award Winning Series on the Federated Ships Painters + Dockers Union for the Bulletin that led to a Royal Commission. He is also a Logie Winner for Outstanding Contribution To TV Journalism with a story called The Werribee Affair. In 1997, he built the largest Australian technology media company and prior to that the third largest PR company that became the foundation company for Ogilvy PR. Today he writes about technology and the impact on both business and consumers.