Saturday, July 30, 2011

Ogilvy's (with apostrophe) is Sold ,You have to have a lot of Dough to buy this joint

          and this family has just that,a lot of dough. The Weston family takes control of the historic Ogilvy's ( again with apostrophe,we are allowed that here---lol) The store has been around Montreal since the 1866 era . We have all peered through their windows,as well as the Eaton's ,& Simpson's & The Bay.......looking at all the Christmas stuff....

MONTREAL - 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.

It bought the building, also for an undisclosed sum, from owners that included a Toronto investment firm and the CBC Employee Pension Fund.

Selfridges said the acquisition fits with its corporate plan to own and operate “permier luxury stores in select markets.” These include the Brown Thomas chain in Ireland, de Bijenkorf in the Netherlands, Selfridges in the United Kingdom and Holt Renfrew in Canada



john allison said...

That is great that they are going to keep it open Unlike Simpsons and Eatons!!!!

Les F said...

Just a few pictures from the 40's mainly of Ogilvy's.................(there's that apostrophe again)

Sandra penner said...

Ogilvys ;;; Such a nice store, always loved it....but haven't been in it for 40 odd years....ahhh, if I ever get back to Montreal, I will make a point of going downtown Ste.Catherine st. That would be after I bought "Humbugs" at Stilwells in Verdun...if they are still there??


john allison said...

Cookie. From past posts they had moved to Ville LaSalle. I believe they no longer have a store, but sell them thru other vendors. I am sure we will have someone on here that has more knowledge than me. Also recieved a call from your brother today, but was not home. I called and left a message for him...