Upmarket grocery store Fortnum and Mason will be taken private after more than 60 years on the London Stock Exchange. The Piccadilly store group, founded in 1705, will be bought out by the majority-owning Weston family - which also has a large stake in food manufacturer Associated British Foods. The Weston family's investment vehicle, Wittington Investments, owns 89.9 per cent of the firm and will mop up the remaining shares at a price of 600p each, valuing the group at £57.4 million sterling (€91.42 million). Shares in Fortnum jumped 65 per cent to 585p following the announcement.