JB Hi-Fi have announced that the company’s takeover of The Good Guys is now complete.
The acquisition was first announced in September, with JB Hi-Fi paying $870 million in cash. The Good Guys was established in 1952, and has a network of 101 stores across the country.
“We are very pleased to have successfully completed the acquisition of The Good Guys and are excited about creating a market leading consumer electronics and home appliance retail group,” JB Hi-Fi CEO Richard Murray said in a statement.
The Good Guys will continue to operate as an independent brand under JB Hi-Fi as part what the company describes as a “dual-branded retail combination with complementary customer bases and product offerings.”
Michael Ford, CEO of The Good Guys, will report to Richard Murray.
