Montreal's Ogilvy's bought by Selfridges Group

Photograph by: Marie-France Coallier, Montreal Gazette file photo

 Montreal’s historic Ogilvy's department store is changing hands for the second time in just over a year.

Selfridges Group Ltd., the real estate arm of Canada’s wealthy Weston family, is the new buyer.
Terms were not disclosed. Selfridges said it will retain current management.

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

“SGL is pleased to have this opportunity to enhance its retail operations in Montreal, which has an international reputation as a leading fashion centre.”

Just last year, the upscale Ste. Catherine St. store - founded in 1866 - was purchased by a private investment group comprised of Champlain Financial Corp., BB Real Estate Investment Trust (controlled by the Beaudoin/Bombardier families) and the Quebec Federation of Labour’s Solidarity Fund.

Read more: http://www.montrealgazette.com/business/Montreal+Ogilvy+bought+Selfridges+Group/5179075/story.html#ixzz1TYVUfkXX

Montreal's Ogilvy's bought by Selfridges Group