Leading UK home and general retailer purchases intellectual property rights to Alba and Bush trademarks for £15.25m.
Home Retail Group today announced that it has signed a contract to acquire the intellectual property rights to the Alba and Bush trademarks for exclusive use on consumer electronics and certain other goods.
According to Home Retail, the household names, owned by Alba plc, have a strong heritage and high awareness and purchase frequency with Argos customers.
Alba plc had decided to end the supply of these branded products as part of its restructuring plans. However, following the acquisition, Home Retail Group can continue to offer the trademarks to its customers.
The financial arrangements are such that it is expected to be broadly earnings neutral for the year ended February 2010.