Business

JB Hi-Fi and The Good Guys to address AFR Retail Summit – in wake of $870m acquisition

14 Sep 2016, by Informa Insights

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In the wake of JB Hi-Fi’s $870m acquisition of The Good Guys this week, the AFR Retail Summit gives you the opportunity to hear first-hand from the CEOs of both companies on their vision for the future.

JB Hi-Fi issued $394 million worth of shares and took on a $500 million debt to fund the deal; but estimate a $15-20 million pay off in combined benefits across the two stores.

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JB Hi-Fi CEO Richard Murray [pictured left] and The Good Guys CEO (Michael Ford) will present at the Australian Financial Review’s Retail Summit in Melbourne later this month

 

JB Hi-Fi CEO Richard Murray said in a statement “The Good Guys is a highly complementary business which […] significantly enhances our offering in the $4.6 billion home appliances market” and therefore represents a “very attractive strategic opportunity”. He also anticipated the takeover would accelerate JB Hi-Fi’s foothold in the whitegoods industry.

In light of the announcement, delegates of the Australian Financial Review’s Retail Summit are eagerly awaiting the two CEO’s addresses at the event later this month.

Murray will contribute insights on innovation, disruption and reform. Meanwhile Ford, who is to remain CEO and independently run the acquired store, will discuss his strategic vision going forward.

Registrations for the summit are still open and may be submitted here.

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