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AO World Buys Jessops From Dragons’ Den Star Peter Jones
AO World said the purchase will expand its adjacent categories strategy as half-year profits are expected to rise more than 20%.
- Electricals chain World acquired Jessops from Dragons Den star Peter Jones, with founder and chief executive John Roberts welcoming the camera retailer to grow the existing business.
- Originally rescued by Peter Jones in 2013, Jessops collapsed into administration again in 2019 and 2021, reducing its store network from more than 250 locations to just eight.
- Half-Year profits at World are expected to jump over 20% to around £21.5 million with sales growth of 5.5%, as the company funds the acquisition from "existing cash resources."
- World said the move supports its strategy to grow into "adjacent categories, giving customers and members more reasons to shop with AO and increase our share of wallet," while integrating Camera Jungle alongside Music Magpie.
- Shares in World dropped 8% in morning trading on Thursday following forecasts of "a more challenging comparative environment" in the final six months, tempering the acquisition announcement.
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18 Articles
AO World strikes deal with Peter Jones to snap up Jessops
AO World has struck a deal with Dragons Den star Peter Jones to acquire struggling camera retailer Jessops. The online retailer did not disclose how much it paid for the group but said the acquisition was funded from its “existing cash resources.” AO World said the deal “supports our strategy of expanding into adjacent categories, [...]
·London, United Kingdom
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Coverage Details
Total News Sources18
Leaning Left3Leaning Right1Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 27%
C 64%
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