Wednesday, September 2, 2015

Sold: Neiman Marcus for $6 billion

The owners of Neiman Marcus have sold the luxury retail giant for $6 billion, NYT's Dealbook reports.

Sold: Neiman Marcus for $6 billion

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A Neiman Marcus store in Dallas. (TOM PENNINGTON / AP)
A Neiman Marcus store in Dallas. (TOM PENNINGTON / AP)

The owners of Neiman Marcus have sold the luxury retail giant for $6 billion, NYT's Dealbook reports.

The Dallas-based company will be sold to a group led by Ares Management and the Canada Pension Plan, with both entities holding equal stake in the company. Neiman, meanwhile, will still hold a minority stake.

Private equity firms Warburg Pincus and TPG Capital bought Neiman in 2005 for $4.1 billion.

There are currently 79 stores across the United States under the Neiman Marcus umbrella, including Bergdorf Goodman and its 35 "Last Call" outlet stores.

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Esther Lee Philly.com
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