JB Hi-Fi has completed its $870 million takeover of whitegoods retailer The Good Guys.

“We are very pleased to have successfully completed the acquisition of The Good Guys and are excited about creating a market-leading consumer electronics and home appliance retail group,” said chief executive Richard Murray in a statement.

Under the deal announced in September, The Good Guys will continue to operate as an independent brand with chief executive Michael Ford reporting to Murray.

Last month, JB Hi-Fi’s first-quarter results met expectations with total sales up 12.4 per cent and comparable sales up 8.3 per cent.

The consumer electronics and home appliances retailer also reaffirmed its total sales guidance of around $4.25 billion for 2016/2017.