Hudson's Bay Completes Acquisition of Lord & Taylor

NEW YORK-Toronto-based Hudson's Bay Co. has closed on its acquisition of Lord & Taylor, bringing the U.S. company's 46 department stores, three outlet stores, lordandtaylor.com and the two recently opened Lord & Taylor Home stores under the Hudson's Bay banner.

Prior to the transaction, Hudson's Bay and Lord & Taylor had been affiliates under NRDC Equity Partners. The two entities will keep their distinct identities and nameplates now that the transaction is completed, according to a Hudson's Bay statement.

Richard Baker, NRDC's CEO, will continue as governor and CEO of Hudson's Bay, while Donald Watros will continue as chief operating officer. Bonnie Brooks, president and CEO of The Bay, will become president of Hudson's Bay Co. Brendan Hoffman, president and CEO of Lord & Taylor, will leave the company to pursue another opportunity, the statement said.

As part of the deal, Hudson's Bay has invested $427 million in Lord & Taylor, which is using the proceeds to reduce corporate debt. The statement said two new Lord & Taylor stores are slated to open in spring of this year.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover

    HFN's DIGITAL EDITION

    August 2017


    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    ALSO IN THIS ISSUE:

    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.