Home Retail buys Alba, Bush trademarks

Britain’s Home Retail Group has acquired the rights to the Alba and Bush trademarks from Alba Plc for £15.25 million ($23.54 million) in cash.

Home Retail, which owns high street catalogue retailer Argos and DIY chain Homebase, said it had bought the rights to the trademarks for exclusive use on consumer electronics and certain other goods sold in its Argos stores after Alba decided to end the supply of these branded products as part of a restructuring plan.

“The trademarks are household names with very strong heritage, which have high awareness and purchase frequency with Argos customers,” Home Retail said in a statement.

Alba said it would change its name to Harvard International Plc to comply with the agreement.

Source: Media Network, Reuters