Carphone Warehouse and Dixons have confirmed a £three.eight billion merger that may see the businesses rebrand underneath one identify: Dixons Carphone. Possession of the brand new firm will probably be cut up between the 2 agency’s present shareholders.
Dixons Retail already owns Curry’s and PC World with over 500 shops throughout the UK and Eire, while Carphone Warehouse at present has over 2,000 shops all throughout Europe.
Each companies confirmed a deal was within the course of again in February however at present was the primary affirmation of its completion. Because the announcement Dixons Retail shares have dropped by three%.
Dixons chief government Sebastian James, who introduced the deal at a buying and selling efficiency assembly for the agency, stated underlying gross sales have been up three% while like-for-like gross sales have been additionally up three%.
James stated, "At this time we additionally announce that we're setting out on a brand new journey with Carphone Warehouse and it's good to be in such a robust place as we embark on this journey.
"The power to take what we now have inbuilt electrical retailing and add the profound experience of Carphone Warehouse in connectivity would make us a number one pressure in retailing for a related world.”
In line with Dixons the businesses will save £80m a yr from the 2017-2018 fiscal yr onwards.
James continued, "Collectively we will create a seamless expertise for our clients that may allow know-how to ship what it guarantees - that's, to make their lives higher."
Carphone Warehouse believes the merger will result in “vital job creation” of round four%. It’s not all excellent news for jobs although: Dixons will lose 2% of its general workforce “because of the rationalisation of sure operational and help features".