Saks Global (HBC) Acquires Neiman Marcus Group for ~$2.65 Billion

July 4, 2024

Hudson's Bay Company (HBC) — through its newly created Saks Global business — has agreed to acquire Neiman Marcus Group (NMG) to form a multi-brand luxury retail and real estate platform. The combined company will pair iconic retail brands (Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks OFF 5TH) with technology, first-party data and strategic investors (including Amazon, Rhône Capital, Insight Partners and Salesforce) to drive personalized omnichannel experiences and unlock real estate value.

Buyers
Hudson's Bay Company (HBC), Saks Global, Amazon, Rhône Capital, Insight Partners, Salesforce, Authentic Brands Group, G-III Apparel Group, M. Klein & Company, Abu Dhabi Investment Council, Abrams Capital
Targets
Neiman Marcus Group, Neiman Marcus, Bergdorf Goodman
Industry
Retail
Location
Texas, United States
Transaction Type
Buyout

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