Central Group to acquire La Rinascente from Central Retail for €934m.

Central Group. a multi-format and multi-category retail group, agreed to acquire La Rinascente, a high-end Italian department store chain that operates nine stores in Italy, from Central Retail, a multi-format and multi-category retailing platform in Thailand, for €934m. The transaction aligns with CRC’s strategic direction to focus on high growth, synergistic markets, unlocking immediate value from La Rinascente at a fair price with strong returns, and lowering CRC’s debt burden and generating returns to shareholders.