Weston family buys Ogilvy

[jesseps]

The Weston family of Toronto is adding a Montreal retail landmark to the family's international group of luxury fashion stores.

 

Selfridges Group Ltd., headed by Galen Weston, said Friday that it plans to buy the Ogilvy department store on Sainte-Catherine Street West for an undisclosed amount.

 

Founded in 1866, Ogilvys contains boutiques showcasing international fashion designers and lifestyle and beauty brands.

 

"This store is a great addition to our growing international portfolio," said chief financial officer Paul Gallagher.

 

Selfridges owns:

 

Holt Renfrew in Canada (founded 1837, nine stores).

Selfridges in the Britain (founded 1909, four stores).

Brown Thomas in Ireland (founded 1849, seven stores).

De Bijenkorf in Holland (founded 1870, 12 stores).

 

The seller is a private investment group, which includes Fonds immobilier de solidarité FTQ, the BB Real Estate Investment Trust and Champlain Financial Corporation. The deal is expected to close in the fall.

 

The Weston family runs George Weston Ltd., which controls Loblaw Companies Ltd., Canada’s largest food distributor.

 

(Courtesy of CBC News)

[Cyrus]

LOL I am reading this:

 

The Weston family of Toronto is adding a Montreal retail landmark to the family's international group of luxury fashion stores.

 

and I am thinking Bulk Barn, no frills and the Real Canadian Superstore

Edited July 30, 2011 by Cyrus

[LindbergMTL]

La FTQ avait des plans pour construire derrière Ogilvy. Maintenant ils n'ont plus de contrôle sur le magasin, mais ils ont toujours le terrain derrière. Bizarre.

[vanatox]

La FTQ avait des plans pour construire derrière Ogilvy. Maintenant ils n'ont plus de contrôle sur le magasin, mais ils ont toujours le terrain derrière. Bizarre.

 

Ce vidéo datant de l'achat d'Ogilvy par FTQ et compagnie permet d'expliquer un peu pourquoi ils revendent le magasin. Écoutez particulièrement ce que M. Bélanger de FTQ dit vers la fin du vidéo.

 

http://argent.canoe.ca/lca/affaires/quebec/archives/2010/07/20100707-064530.html#video

 

Seulement le terrain les intéressait finalement...