Argos buys Alba/Bush brands, confuses everyone
The Argos (parent company Home Retail Group) purchase of the Alba and Bush brands has been widely reported but there seems to be a swathe of confusion about what actually happened (see this article from FT and try to sort out what's what). So here's Bitterwallet's skinny on what went down.
1. Argos has bought the brands Alba and Bush (really just the Alba/Bush trademarks/IP) for £15.25m. This gives them the right to use the names on consumer products in the UK.
2. The parent company (Alba Group) that used to own Alba/Bush will now have to rename itself Harvard International plc in the UK. The company Alba was founded in 1917 but was bought out by Harvard International in 1982. It then changed the name to Alba Group when it floated on the LSE in 1987.
3. Alba Group will still own the Alba and Bush brands in Australasia.
4. Alba Group will still own Goodmans, Grundig, Sonetik, and Ministry of Sound Audio.
So the total sum effect on your life? Zero. Bush and Alba were already white label consumer goods so it's doubtful you will see any difference in quality or manufacturing. It's sad to see an iconic brand such as Bush disintegrate to being a white label product but that's modern marketing for you where the brand is considered to be worth more than the product itself.