Need advice on redirecting a competitors website I bought!

hadeeclick

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Hi what is the best way to redirect a competitors website in the same niche. It is a ecommerce website and my niche is ecommerce price compare so it goes hand to hand.

My current thought process is make a single homepage stating website has been squired by me. And redirect all internal pages to home page of the competitors website. And state the website will be redirected to the new website in 30 days. Wait till google deindexes all internal pages and only has the home page. (will use removals tool)

Then make a press release post stating my website has acquired a competitors website and welcoming all members to the new website. (keep it like that)

Then after 30 days 301 redirect the competitors domain to new site press release page. There after do a change of address in GSC.

Is this strategy good?
 
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