Central Group Acquires Swiss Globus Department Store

Central Group, a Thai retail and property conglomerate, has fully acquired the operational business of the Swiss luxury department store chain Globus from the insolvent Signa group, founded by Austrian tycoon Rene Benko. This acquisition includes all nine Globus stores across major Swiss cities, but the ownership of the associated real estate remains unchanged, as Central Group and Signa continue to share ownership of the properties. Central Group's CEO, Andre Maeder, expressed enthusiasm for the acquisition, highlighting its strategic importance in consolidating their European portfolio. The deal represents a significant step for Central Group as it seeks to expand its influence in the European luxury retail market. Financial details of the transaction were not disclosed. Central Group had previously held a stake in Globus before this complete takeover.