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JB Hi-Fi Completes Acquisition Of The Good Guys

JB Hi-Fi have announced that the company’s takeoverĀ 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.