SUMMARY
Dragons' Den star Peter Jones has sold the UK camera retailer Jessops to white goods specialist AO World. Jones' PJ Investment Group had previously bought Jessops out of administration in 2013. AO World sees the acquisition as a strategic move to expand into adjacent categories, bringing customers more reasons to shop with them. Jessops' brand, expertise in cameras and optics, and its re-commerce arm, Camera Jungle, are considered highly complementary to AO's existing operations and circular economy initiatives. AO plans to keep the seven existing Jessops stores operational.
TAKEAWAYS
AO World acquires Jessops camera stores from Peter Jones.
Jessops brings camera expertise and a re-commerce business to AO.
The acquisition supports AO's strategy of category expansion.
Seven existing Jessops stores will remain open.