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NRDC Equity Partners Announces Acquisition of Hudson's Bay Company
- Client News
- July 17, 2008
As reported in today's New York Times, Wall Street Journal and Daily Deal, Paul, Weiss client NRDC Equity Partners announced the completion of a transaction in which they acquired Hudson's Bay Company and consolidated its ownership of Lord & Taylor, Fortunoff and Creative Design Studios under a holding company called the Hudson's Bay Trading Company. Combined, these companies comprise more than US$8 billion in retail sales, 75,000 employees and 55 million square feet of stores in the United States and Canada. Hudson's Bay Company, established in 1670, is North America's oldest continually operating company.
Paul, Weiss represented NRDC Equity Partners as U.S. legal counsel and Stikeman Elliott, LLP represented the client for Canadian counsel. The Paul, Weiss lawyers who worked on the transaction included real estate partner Harris Freidus; corporate partner Bruce Gutenplan; tax partner Peter Rothenberg; and employee benefits partner Larry Witdorchic.