M&A Deal Summary

Hudson s Bay Company Acquires Saks

On July 29, 2013, Hudson s Bay Company acquired retailer Saks for 2.9B USD

Acquisition Highlights
  • This is Hudson s Bay Company’s 2nd transaction in the Retail sector.
  • This is Hudson s Bay Company’s largest (disclosed) transaction.
  • This is Hudson s Bay Company’s 2nd transaction in the United States.
  • This is Hudson s Bay Company’s 2nd transaction in New York.

M&A Deal Summary
Date 2013-07-29
Target Saks
Sector Retail
Buyer(s) Hudson s Bay Company
Deal Type Add-on Acquisition
Deal Value 2.9B USD
Advisor(s) Goldman Sachs
Morgan Stanley
Guggenheim Securities (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Saks

New York, New York, United States
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.

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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 2 of 5
Sector (Retail) 2 of 4
Type (Add-on Acquisition) 2 of 4
State (New York) 2 of 3
Country (United States) 2 of 4
Year (2013) 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-24 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-07 GILT Groupe Holdings

New York, New York, United States

GILT Groupe Holdings, Inc. is an online retail company offering luxury goods and services. Gilt is at the forefront of ecommerce innovation, having built a passionate consumer following by offering daily flash sales to members at Gilt.com.

Buy $250M
Mergr

Product

Company

Legal