M&A Deal Summary

Belk Acquires Parisian

On October 2, 2006, Belk acquired retailer Parisian from Saks for 285M USD

Acquisition Highlights
  • This is Belk’s 2nd transaction in the Retail sector.
  • This is Belk’s largest (disclosed) transaction.
  • This is Belk’s 2nd transaction in the United States.
  • This is Belk’s 1st transaction in Alabama.

M&A Deal Summary

Date 2006-10-02
Target Parisian
Sector Retail
Buyer(s) Belk
Sellers(s) Saks
Deal Type Divestiture
Deal Value 285M USD

Target

Parisian

Birmingham, Alabama, United States
Parisian, Inc. is a department store company.

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Buyer(S) 1

Buyer

Belk

Charlotte, North Carolina, United States

Category Company
Founded 1888
Sector Retail
DESCRIPTION

Belk is a regional department store company with 296 locations across 16 Southern states and a growing digital presence. Belk offers a wide assortment of national brands and private label fashion apparel, shoes and accessories for the entire family along with top name cosmetics, a wedding registry and a large selection of quality merchandise for the home. Belk was founded in 1888 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 2 of 2
Sector (Retail) 2 of 2
Type (Divestiture) 1 of 1
State (Alabama) 1 of 1
Country (United States) 2 of 2
Year (2006) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-31 Migerobe

Ridgeland, Mississippi, United States

Migerobe, Inc. is a fine jewelry department stores.

Buy -

Seller(S) 1

SELLER

Saks

New York, New York, United States

Category Company
Founded 1919
Sector Retail
Employees10,125
Revenue 3.0B USD (2012)
DESCRIPTION

Saks Inc. operates 41 Saks Fifth Avenue stores and 67 Saks Fifth Avenue OFF 5TH stores throughout the United States and its online store, saks.com. Saks Fifth Avenue is a specialty retailer and is renowned for its American and international designer collections; its assortment of handbags, shoes, jewelry, cosmetics and gifts; and the fashion expertise and client service of its Associates. Saks Fifth Avenue OFF 5TH is a full-service destination for value-priced clothes and accessories for men, women, children and the home.


DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Divestiture) 1 of 1
State (Alabama) 1 of 1
Country (United States) 1 of 1
Year (2006) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-01-01 Parisian

Birmingham, Alabama, United States

Parisian, Inc. is a department store company.

Buy -