Westons sold Selfridges & Co. to Thai-Austrian Joint Venture

Weston family has sold the Selfridges & Co, the British department store operator to a Thai conglomerate Central Group, making it one of the biggest U.K. retail deals. Central Group of Thailand and Signa Holding of Austria have formed a joint venture for this deal. 

Selfridges was founded by Harry Gordon Selfridge in 1908 and is known for its giant store on Oxford street of London. It was later bought by the Canadian businessman Galen Weston for 600 million pounds in 2003. 

Selfridges is among the famous department stores in the world and has survived the pandemic well. Currently, it operates 18 stores and 25 stores worldwide across its five brands. After this acquisition, it will become a part of the combined Central and Signa portfolio of its luxury department stores.