House of Fraser has confirmed that it is buying the Edinburgh-based Jenners stores.
Jenners has become a Scottish institution
A company statement said a price of more than £46m had been agreed.
Jenners has four shops in Scotland, with its headquarters in Princes Street the oldest independent department store in the world. It opened in the 1830s.
Staff at the store were told last week that they would continue to trade under the same name when the acquisition goes ahead.
About 750 staff work at Jenners outlets in Edinburgh, Loch Lomond shore and Glasgow and Edinburgh airports.