Shareholders of upmarket department store Fortnum & Mason are expected to give a reluctant go-ahead to takeover by Wittington Investments at the firm’s extraordinary meeting today [Monday].


Wittington Investments, which is owned by the high-profile Weston family of Canada, already controls nearly 90% of Fortnum’s stock and has offered a buy out deal of £6 (US$8.5) a share, which values the company at £57.4m.


Founded in 1707, Fortnum has been a public company for 62 years. The history of its share value has proved less illustrious than that of its brand however, as shares peaked five years ago at £9 and have since fallen below £4 in May 2000. Wittington chairman, Guy Weston, stressed last month: “Fortnum & Mason is not realising any material benefit from its listing.”


Furthermore, sales have been buffeted in recent months as the September terrorist attacks rocked the tourist market and led to a distinct drop in footfall.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.