Argos buys Chad Valley toys from Woolworths

Home Retail Group, the owner of Argos and Homebase, has acquired the Chad Valley toy brand from Woolworths for £5m. The general merchandise retail group said it had purchased the rights to use the Chad Valley brand exclusively in the UK and internationally.

It said the brand, which has a "very strong heritage, with independent research confirming high recognition among UK consumers", will help to consolidate Argos's leading position in the toy retail market. Deloitte, the administrator to Woolworths, is also trying to sell the Woolworths brand itself and that of Ladybird, the children's wear offer.