Less than 3 months after initial announcement.

Further to its announcement on September 13, 2016, JB Hi-Fi has confirmed its acquisition of The Good Guys has been completed.

Group CEO, Richard Murray said, “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.”

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“The Good Guys is a high quality Australian retailer with an excellent track record. We are very impressed by what the owners and management have achieved with the business since its establishment and the leading market position they have created.

“The acquisition is an attractive strategic opportunity for JB Hi-Fi since The Good Guys is a highly complementary business which is aligned with our management philosophy and significantly enhances our offering in the $4.6 billion home appliances market.

“We are pleased to welcome Michael and his executive team and look forward to working together to create a market leading consumer electronics and home appliance retail group,” Murray added.