HOUSE of Fraser is to buy Jenners, the world's oldest independent department store, for £46.1 million, it has said.
House of Fraser is also assuming the Jenners pension scheme and will inject £3.4 million into the scheme when the deal is completed.
The purchase will give House of Fraser the Jenners brand, its flagship store in Edinburgh's Princes Street, and three other stores at Loch Lomond and Glasgow and Edinburgh Airports.
Jenners has 750 employees and the stores will continue to operate under the Jenners name, said House of Fraser.
The Edinburgh store at 48 Princes Street has been Jenners' flagship since 1838 and has more than 100 different departments.
It was created by Charles Jenner and Charles Kennington, selling silks, shawls, ribbons and laces under the name of Kennington & Jenner.
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