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HBC, Parent of Saks Fifth Avenue, to Acquire Neiman Marcus Group for $2.65 Billion and Establish Saks Global, a Technology-Powered Luxury Retail Company
Combination expected to fuel growth and benefit customers, brands and employees by meeting the increasing demands of the rapidly evolving luxury retail industry The transaction brings together three iconic luxury destinations to better serve customer
NEW YORK -- HBC, parent company of Saks Fifth Avenue, has entered into a definitive agreement to acquire Neiman Marcus Group (“NMG”), parent company of Neiman Marcus and Bergdorf Goodman, for a total enterprise value of $2.65 billion. Upon transaction close, HBC will establish Saks Global, a combination of world-class luxury retail and real estate assets, including Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus and Bergdorf Goodman, each of which will continue operations under their respective brands. Read More
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