GUS Sells UK Home Shopping Business

(Direct Newsline) GUS, parent company of data compiler Experian, has sold its home shopping businesses in the UK, Ireland, and Sweden, and Reality, its UK logistics and customer care business, ito March U.K. Ltd. The sale was valued at roughly $967 million.

The businesses being sold generated sales of $2.74 billion and operating profit of $57.4 million during the most recent fiscal year.

March U.K. is run by Sir David Barclay and Sir Frederick Barclay, who also run the UK’s Littlewoods catalog business. The properties sold include Home Shopping UK and Ireland; Halens, the Swedish home shopping business; and the Additions brand and business.

“Since 2000, we have been streamlining GUS to focus on fewer businesses which operate in growth markets,” GUS chief executive John Peace said in a statement. GUS will use proceeds from the sale to pay down debt.