Acquisition of parent company from Brown Thomas and Arnotts completed

Completed the acquisition of the Selfridges Group, including Brown Thomas and Arnotts, by Thailand-based Central Group and Switzerland-based SIGNA Holding.

The €4.7bn deal, which will see the Weston family relinquish control of the group, was first announced on Christmas Eve.

The Selfridges Group includes 18 stores under four brands in three countries.

Brands include Selfridges in the UK, Brown Thomas and Arnotts in Ireland, and De Bijenkorf in the Netherlands.

These, the new owners said, will integrate with Central and Signa’s existing portfolio of 22 department stores.

It also has two more new outlets set to open in Dusseldorf and Vienna.

Tos Chirathivat, Executive Chairman and CEO of Central Group, and Dieter Berninghaus, Chairman of Signa Holding, will act as new co-chairmen of the enlarged group.

“We are long-term investors with a well-established partnership and a shared vision to reshape and reinvent the luxury retail industry,” they said in a joint statement.

“We are committed to creating the world’s leading luxury omnichannel platform for all of our customers across online and offline channels.”

“We are excited to meet and work with our new colleagues as well as brand partners to achieve this vision.”

The CEO of Central and Signa’s luxury department store group in Europe, Stefano Della Valle, will lead Selfridges Group under an expanded role.

Anne Pitcher, current CEO of The Selfridges Group, will remain on the company’s management team until the end of the year.

The Canadian wing of the billionaire Weston family bought Selfridges for nearly £600m in 2003 and formed the Selfridges Group in 2010, uniting its five department store brands into one group.

In February, the group opened a new Brown Thomas store in Dundrum Town Centre.

It also recently completed a refurbishment of the Arnotts store on Henry St in Dublin.

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