HBC, the owner of Saks Fifth Avenue, acquires Neiman Marcus, creating a luxury retail giant
Jul 04, 2024•over 1 year ago
Acquiring Company
Hudson's Bay
Acquired Company
Neiman Marcus
New YorkLas VegasRetailRetailDescription
HBC, the parent company of Saks Fifth Avenue, has reached an agreement to acquire Neiman Marcus in a $2.65 billion deal. This strategic move aims to consolidate the luxury retail market, creating a dominant high-end department store behemoth and enhancing the product offerings and customer experience for both brands.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed