Yesterday, The Nordstrom family has received approval from the company’s board of directors to acquire all outstanding shares of the iconic US department store chain, potentially taking the retailer private. In partnership with Mexican real estate firm El Puerto de Liverpool, S.A.B. de C.V. (Liverpool), the Nordstrom family—comprising Erik, Pete, Jamie, and other members—will move forward with an all-cash transaction valued at approximately $6.25 billion.
Upon completion of the deal, which is expected to close in the first half of 2025, the Nordstrom family will become the majority owners of the company, holding a 50.1 percent stake. Liverpool will acquire a 49.9 percent stake. As part of the transaction, common shareholders will receive $24.25 per share in cash, representing a 42 percent premium over the company’s last closing stock price before the acquisition rumors began circulating in March 2024.
In a statement, Erik Nordstrom, who currently serves as CEO, expressed enthusiasm for the future of the company, stating, “Today marks an exciting new chapter for the business,” while Pete Nordstrom, chief brand officer, acknowledged the pivotal role of employees, customers, and shareholders in shaping Nordstrom’s legacy.
The transaction has received unanimous approval from the board of directors, with Erik and Pete Nordstrom recusing themselves from the decision. The deal is still subject to regulatory and shareholder approvals, including a two-thirds vote from common stockholders. The deal will be financed through a combination of rollover equity from the Nordstrom family and Liverpool, as well as up to $450 million in borrowings from a new $1.2 billion ABL bank financing.
Nordstrom’s beauty department spans skincare, makeup, fragrance, and haircare, offering a curated selection of products. Beauty brands such as La Mer, Estee Lauder, MAC Cosmetics, Charlotte Tilbury are available in Nordstrom.
