In July, the Canadian Weston family announced the sale of the historic British chain for a price of 4,000 million pounds (5,500 million dollars), according to press reports.
Central Group and Signa "have reached a definitive agreement to acquire Selfridges Group," both companies said in a statement, without specifying the final price of the operation.
"As family-owned businesses, Central and Signa will focus on offering an exceptional and inclusive store and digital experiences for both local residents and foreign visitors," Central CEO Tos Chirathivat said in a statement.
This group is run by the millionaire Thai family and owns numerous shopping malls, electronics stores, food stores and restaurants throughout the country.
The firm is expanding internationally by recently buying or partnering with luxury firms from Italy, Germany or Switzerland.
Founded in the UK in the early 20th century by American Harry Gordon Selfridge, the British luxury chain has its most famous store on Oxford Street, London's main shopping artery.
The Weston family bought the firm in 2003 and, in addition, owns a majority of the capital of the British group Associated British Foods, the parent company of Primark clothing stores.
The operation covers 18 stores in London, Manchester, Birmingham, in Bijenkorf (Netherlands) and in Brown Thomas (Ireland).
"I am proud to hand over to the new owners, who are family businesses with a long-term vision," said Selfridges Group Chairman Alannah Weston.
© 2021 AFP
