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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.

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