M&A Deal Summary

Hudson s Bay Company Acquires Neiman Marcus

On July 5, 2024, Hudson s Bay Company acquired retailer Neiman Marcus for 2.7B USD

Acquisition Highlights
  • This is Hudson s Bay Company’s 4th transaction in the Retail sector.
  • This is Hudson s Bay Company’s 2nd largest (disclosed) transaction.
  • This is Hudson s Bay Company’s 4th transaction in the United States.
  • This is Hudson s Bay Company’s 1st transaction in Texas.

M&A Deal Summary
Date 2024-07-05
Target Neiman Marcus
Sector Retail
Buyer(s) Hudson s Bay Company
Deal Type Add-on Acquisition
Deal Value 2.7B USD
Advisor(s) J.P. Morgan Securities
Lazard (Financial)
Sullivan & Cromwell (Legal)

Target

Neiman Marcus

Dallas, Texas, United States
Neiman Marcus is a specialty retailer with online and offline operations. The Company's retail stores segment consists primarily of Neiman Marcus, Bergdorf Goodman and Last Call stores. The Online segment conducts both catalog and online operations under the Neiman Marcus, Bergdorf Goodman and Horchow brand names. Neiman Marcus was originally established in 1907 and is headquartered Dallas, Texas.

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Buyer(S) 1

Buyer

Hudson s Bay Company

Brampton, Ontario, Canada
Category Company
Founded 1670
Sector Retail
Revenue 9.4B CAD (2019)
DESCRIPTION

Hudson’s Bay Company operates approximately 250 department stores in the U.S. and Canada. The company owns a portfolio of 77 properties located in premium urban locations, both directly and through its joint ventures, including the Saks Fifth Avenue flagship store in New York. Hudson’s Bay Company offers an assortment of apparel, accessories, shoes, beauty products, and home merchandise through its three retail banners: Hudson’s Bay, Saks Fifth Avenue, and Saks OFF 5TH. Hudson's Bay was founded in 1670 and is based in Brampton, Canada.

DEAL STATS #
Overall 5 of 5
Sector (Retail) 4 of 4
Type (Add-on Acquisition) 4 of 4
State (Texas) 1 of 1
Country (United States) 4 of 4
Year (2024) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-28 Lord & Taylor

New York, New York, United States

Founded in 1826, Lord & Taylor is an upscale specialty department store, with 48 stores in 9 states and the District of Columbia. Lord & Taylor has built a reputation for attentive customer service and high-quality merchandise focused on apparel and accessories products for women, men, and children.

Sell CA$100M
Mergr

Product

Company

Legal