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NRDC Equity Partners acquires Hudson's Bay Company, invests $500m in new holding company18/07/2008. Source: AltAssets. 
 US private equity firm NRDC Equity Partners has acquired Canadian merchandise retailer Hudson's Bay Company, merging the business with portfolio companies Lord & Taylor, Fortunoff and Creative Design Studios in a newly formed holding company called Hudson's Bay Trading Company, into which the firm will invest $500m.
NRDC was previously a minority owner of Hbc, acquiring the company as part of an investment syndicate in 2006.
The newly established company has some 75,000 employees and combined retail sales of $8bn.
Hbc operates through a department store (the Bay), merchandise (Zellers), specialty (Home Outfitters) and discount (Fields) formats. The business operates through some 580 retail outlets and approximately 60,000 associates across Canada.
Lord & Taylor is a specialty US department chain with 47 stores. Following the deal the company will look to launch between ten and 15 stores throughout Canada, according to a statement.
Jewelry and home furnishings store Fortunoff currently has 23 retail outlets in the New York tri-state area. NRDC recently acquired the company in March, for $110m.
Creative Design Studios is the parent company of Peter Som, and brands including Kate Hill, Context, and Black Brown 1826. Following the deal, the company will aim to expand its offerings and sell its branded collections throughout North America and internationally, said the firm.
NRDC Equity Partners is the private equity investment arm of real estate and development management firm National Realty & Development Corp. The firm is also backed by New York-headquartered real estate fund manager Apollo Real Estate Advisors.
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