M&A Deal Summary

Le Tote Acquires Lord & Taylor

On August 28, 2019, Le Tote acquired retailer Lord & Taylor from Hudson s Bay Company for 100M CAD

Acquisition Highlights
  • This is Le Tote’s 1st transaction in the Retail sector.
  • This is Le Tote’s 0th largest (disclosed) transaction.
  • This is Le Tote’s 1st transaction in the United States.
  • This is Le Tote’s 1st transaction in New York.

M&A Deal Summary
Date 2019-08-28
Target Lord & Taylor
Sector Retail
Buyer(s) Le Tote
Sellers(s) Hudson s Bay Company
Deal Type Divestiture
Deal Value 100M CAD

Target

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.

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Buyer(S) 1

Buyer

Le Tote

San Francisco, California, United States
Category Company
Founded 2012
Sector Business Services
DESCRIPTION

Le Tote is a fashion subscription service that lets women rent clothing and accessories for a flat monthly fee. Le Tote’s data-driven model is powered by proprietary algorithms and in-house operational solutions. Le Tote partners with hundreds of brands including French Connection, Vince Camuto, BCBGeneration, Kate Spade, Rebecca Minkoff, Calvin Klein and more. Le Tote was formed in 2012 and is based in San Francisco, California.

DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1

Seller(S) 1

SELLER

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 3 of 3
Sector (Retail) 2 of 2
Type (Divestiture) 2 of 2
State (New York) 2 of 2
Country (United States) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-11 Hudson s Bay Company - Europe Retail Operations

Germany

Hudson's Bay Company - Europe Retail Operations comprises retail operations based in Europe.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-05 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.

Buy $2.7B
Mergr

Product

Company

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