SGL (Selfridges Group Limited) announced today its intention to acquire the OGILVY department store from a private investment group, which includes Fonds immobilier de solidarité FTQ, the BB Real Estate Investment Trust and Champlain Financial Corporation.
"SGL is pleased to have this opportunity to enhance its retail operations in Montreal, which has an international reputation as a leading fashion centre," said SGL Chief Financial Officer Paul Gallagher. "This store is a great addition to our growing international portfolio."
Founded in 1866, La Maison OGILVY offers Montreal and the world a unique shopping experience. Located in Montreal, Quebec, Canada, it houses numerous boutiques, featuring international fashion designers and an array of lifestyle and beauty brands. The OGILVY store will continue to be led by its existing management team.
This acquisition reflects SGL's strategy to own and operate premier luxury stores in select markets.