Ares Management LLC and Canada Pension Plan Investment Board (CPPIB) announced that their affiliates have completed the acquisition of Neiman Marcus Group LTD Inc. for a purchase price of approximately US$6.0 billion. The transaction was previously announced on September 9, 2013.
“We are very pleased with the successful outcome of this transaction,” commented Karen Katz, Neiman Marcus Group President and Chief Executive Officer. “We look forward to partnering with Ares Management and CPPIB. We believe the future for Neiman Marcus Group is bright.”
About Neiman Marcus Group
Neiman Marcus Group LTD Inc. operations include the Specialty Retail Stores segment and the Online segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus, Bergdorf Goodman and Last Call stores. The Online segment conducts both catalog and online operations under the Neiman Marcus, Bergdorf Goodman and Horchow brand names.