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

  • Von Tobel Cites Brass Textures Among Top Trends

    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 cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.