By Claire Moffat

Amidst fevered industry speculation that Wesfarmers is in the process of buying the 97 stores owned by The Good Guys’ (TGG) for $600 million, some announcement looks likely to emerge this week.

This follows conversations with TGG proprietors who have told www.connectedaustralia.com that they will be meeting next week in Victoria.

The intention of the Muir family to sell the chain has been well known in the industry for several years, and it’s believed that Muir Investments has been seriously assessing options for the business.

The Good Guys management is keeping its traditional silence but the rumours around the Wesfarmers acquisition follow that company’s desire to increase revenues from whitegoods to $1 billion.

However, similar gossip has also surrounded the possibility of a purchase by Best Buy, which has a seat on The Good Guys board. Although Best Buys is growing strongly in China, it is yet to establish a presence within Asia Pacific.

The Good Guys operates a mixed model with ‘joint-venture partners’ owning about 50% of the retail outlets. Some analysts are suggesting that while this may have worked for the Muir’s it is actinf as a brake on acquirers hesitiant to buy a business with minority owners.