Lord and Taylor Owner Buys Hudson’s Bay Co.

September 23, 2009
SGB Update

Hudson's Bay Co., Canada's oldest retailer, has been acquired by the U.S. equity firm behind the turnaround of Lord & Taylor in a deal that winds North America's two oldest department stores into the same corporate structure.

Lord & Taylor will launch 10 to 15 stores throughout Canada in moderate-income areas that currently house Bay, Zellers or Home Outfitters locations.

“We realized there was a tremendous opportunity to bring world class retail experience to the HBC organization,” said Richard Baker, principal of NRDC Equity Partners of Purchase, N.Y., which had a 20% stake in the company prior to the deal.

Lord and Taylor Owner Buys Hudson’s Bay Co.

SGB Update

Hudson’s Bay Co., Canada’s oldest retailer, has been acquired by the U.S. equity firm behind the turnaround of Lord & Taylor in a deal that winds North America’s two oldest department stores into the same corporate structure.

Lord & Taylor will launch 10 to 15 stores throughout Canada in moderate-income areas that currently house Bay, Zellers or Home Outfitters locations.

“We realized there was a tremendous opportunity to bring world class retail experience to the HBC organization,” said Richard Baker, principal of NRDC Equity Partners of Purchase, N.Y., which had a 20% stake in the company prior to the deal.

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