Electrical retail giant Powerhouse has snapped up more than 100 stores across the country.
The company, based in Bicester, is buying the stores from Scottish Power. The move will secure the jobs of the 1,500 staff.
The proposed purchase includes more than 230 superstores and High Street shops in England, Scotland and Wales.
Chief executive Derrick Broomfield said: "This is excellent news for Powerhouse. We could become the country's third major home appliance retailer and this increase in scale would make us a more robust retailing force."
Powerhouse has its adminstration headquarters at the Talisman Business Centre, London Road, Bicester.
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