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Announced

Rhône Capital-backed HBC to acquire Neiman Marcus Group for $2.65bn.

Synopsis

Rhône Capital-backed HBC, a Canadian retail business group, agreed to acquire Neiman Marcus Group, an American integrated luxury retailer, for $2.65bn. “We're thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman,”“For years, many in the industry have anticipated this transaction and the benefits it would drive for customers, partners and employees. This is an exciting time in luxury retail, with technological advancements creating new opportunities to redefine the customer experience, and we look forward to unlocking significant value for our customers, brand partners and employees,” Richard Baker, HBC Executive Chairman and CEO.

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