AO World announced the completion of its acquisition of Jessops, the camera and optical technology retailer, from Dragons’ Den personality Peter Jones. The purchase included the business’s remaining seven physical store locations across the United Kingdom, though the financial terms were not disclosed. AO stated it would fund the transaction using existing cash on hand.
The acquisition aligns with AO’s strategic objective to diversify beyond its traditional focus on white goods, mobile phones, and televisions into complementary electrical product categories. AO emphasized that Jessops provides a recognized brand with specialized knowledge in cameras and optical equipment. The company also highlighted that Jessops’ re-commerce division, Camera Jungle, which buys and sells secondhand cameras, lenses, and photography equipment, complements AO’s existing musicMagpie operation, which deals in used consumer electronics and media. AO previously acquired musicMagpie in December 2024.
According to the most recent financial filings available, Jessops generated revenues of £19.8 million in the prior year, representing a 6.5% increase, while reporting a pre-tax loss of £1 million, an improvement from the £1.17 million loss recorded in 2024. AO indicated expectations for growth at Jessops over the coming 12 months through leveraging its operational scale, website traffic, and business expertise.
Jessops, established in 1935, has navigated significant challenges throughout recent decades, entering administration on three separate occasions. Jones’s PJ Investment Group acquired the business out of administration in 2013. The retailer faced substantial headwinds during pandemic lockdowns, declining from 17 locations in 2021. AO founder and chief executive John Roberts stated the company was pleased to incorporate Jessops into its operations and anticipated expanding the business while integrating it into the broader AO structure.
Article Attribution | Read More at Article Source
Article summary produced by Claude AI