Brown Thomas sale is completed as new owner takes over Selfridge Group

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A sale of the Selfridges Group’s luxury department stores, including Brown Thomas and Arnotts, in Ireland has been completed. The company has been sold by Canadian billionaire family Weston to a joint bid by a Thai retailer and an Austrian real estate company for an alleged £4bn.

The buyers, Thai Central Group and Austrian real estate company Signa Group, already jointly own large department stores across Europe. The sale was announced back in December and had been in the works since last summer.

The new owners said the transaction created one of the world’s leading luxury department store groups with a presence in eight countries in Europe.

The acquired businesses join Selfridges in the UK, Brown Thomas & Arnotts in Ireland and De Bijenkorf in the Netherlands to a portfolio of 22 luxury department stores in Germany, Switzerland, Italy and Denmark that Central owns solely or jointly with Signa.

Stefano Della Valle, CEO of luxury department store Central and Signa

Group in Europe, will lead Selfridges Group in his expanded role.

Current Managing Director of Selfridges Group, Anne Pitcher, will remain on the leadership team through the end of the year

https://www.independent.ie/business/irish/brown-thomas-sale-finalised-as-new-owner-takes-over-selfridge-group-41921133.html Brown Thomas sale is completed as new owner takes over Selfridge Group

Fry Electronics Team

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