£4 billion! London’s most profitable department store has been acquired by a Thai-Chinese family...

The long-anticipated sale of London’s Selfridges department store has finally been confirmed. According to UK Property Investor (December 3, 2021), the Weston family—the current owners of Selfridges, London’s most profitable shopping destination on Oxford Street—has agreed to sell the business to Central Group, a Thai retail conglomerate founded by the ethnic Chinese Zheng family, for £4 billion (approximately RMB 33.8 billion). The news immediately dominated major British media outlets: The Times: “Selfridges agrees to sale to Thai Central Group” Financial Times: “Thai firm in talks to acquire Selfridges” City A.M.: “UK landmark department store Selfridges to become a Thai brand: Weston family agrees £4bn sale” The Guardian: “Selfridges to be sold to Thai group for £4bn” Reports indicate that the Weston family reached agreement with Central Group over the past few days, and the sellers aim to complete the transaction by the end of December. Sources say the entire process is expected to conclude in January 2022. A well-informed source described the deal’s rarity and historic significance: “An asset as unique as Selfridges presents a once-in-a-lifetime opportunity when it comes up for sale.” Founded in 1908 by British entrepreneur Harry Gordon Selfridges, Selfridges currently operates over 25 stores across London, Manchester, and Birmingham. In July this year, when the Weston family formally listed Selfridges for sale, it instantly attracted bids from multiple international consortia—including Abu Dhabi Investment Authority (ADIA) from the Middle East and Hong Kong’s Lane Crawford. Notably, the Weston family owns Selfridges Group, a retail holding company comprising five prestigious department store chains: Selfridges (UK), Holt Renfrew (Canada), de Bijenkorf (Netherlands), Brown Thomas (Ireland), and Arnotts (Ireland). According to British media reports, Central Group’s acquisition covers only Selfridges Group’s UK and Ireland retail operations: • Selfridges’ flagship Oxford Street store in London (freehold property, including the building itself) • Selfridges’ flagship Birmingham store (leased premises; rent payments will continue post-acquisition) • Selfridges’ Trafford store in Manchester (leased premises; rent payments will continue post-acquisition) • Selfridges’ Exchange Square store in Manchester (freehold property, including the building itself)

Through which dimensions can one comprehensively understand Canada?

The Ford brothers’ success at both municipal and provincial levels has turned the name 'Ford' into a recognizable conservative political brand with strong voter appeal. Notably, the Ford family’s public image diverges from that of traditional elites: they project an unpretentious, down-to-earth persona and openly express dissatisfaction with elite circles—earning them the label of Canada’s ‘Trump-style’ politicians. This relatable, grassroots style has been passed down across generations and has become integral to the family’s political influence. Overall, the Fords have leveraged two generations’ experience in business and politics to achieve seamless identity transitions and cumulative influence—establishing themselves as an indispensable local powerbroker in Ontario politics. Business Magnate Family The Weston Family Origins: The Weston family is a globally renowned Canadian business dynasty whose core enterprises lie in food production and retail. The family’s fortune began in 1884, when George Weston purchased a small bakery in Toronto (Weston family Wikipedia). Capitalizing early on industrialized bread manufacturing, the Westons rapidly expanded their business empire throughout the 20th century. The second generation, W. Garfield Weston, extended operations overseas—acquiring biscuit and bakery factories in the UK and establishing a firm foothold across Europe. By the time the third generation—W. Galen Weston—took the helm, the family enterprise had evolved into a multinational retail empire. Through George Weston Limited, the family controlled Canada’s largest supermarket chain, Loblaws, as well as Shoppers Drug Mart and over 200 other companies. Galen Weston also entered high-end retail, acquiring Canada’s Holt Renfrew and formerly owning the European luxury department store group that included Selfridges in the UK. The Weston family consistently ranks among Canada’s wealthiest, with Forbes estimating their net worth at over USD 8.7 billion in 2021. Key turning points include: a bold restructuring of Loblaws during its near-bankruptcy in the 1970s—reviving the company—and expansion into premium retail and North American food markets in the 2000s. These strategic moves cemented the Westons’ dominance in Canadian commerce. Education: Generations of the Weston family have received elite, internationally oriented education. Galen Weston was born into British aristocracy, attended St Paul’s School in London during his youth, and completed his university studies at Western University in Canada. His transatlantic educational background endowed him with a global perspective. His wife, Hilary, hails from an established Irish aristocratic family. Their children followed the family tradition: daughter Alannah Weston pursued advanced studies at top UK institutions and remains active in art and design; son Galen Weston Jr. (sometimes referred to in Chinese media as Galen Weston II) graduated from Upper Canada College—a prestigious Canadian boys’ school—then earned his bachelor’s degree from Harvard University in the U.S., followed by an MBA from Columbia University.

Canada's Weston Family Buys Pharmacy Chain Boots for $8.9 Billion

16 hours ago

Canada's Weston family agreed to acquire UK pharmacy chain Boots for $8.9 billion, covering retail operations in the UK, Ireland, and Thailand, while expanding its existing health and beauty portfolio.

reuters

2026-10-07

Canada's Weston Family Buys Pharmacy Chain Boots for $8.9 Billion

Canada's Weston Family Buys Pharmacy Chain Boots for $8.9 Billion

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