The Nordstrom family is reclaiming ownership of the iconic department store chain in a groundbreaking $6.25 billion all-cash deal, marking a pivotal moment in the company's history. This acquisition, expected to close in the first half of 2025, will make Nordstrom privately owned for the first time since 1971.
From Shareholders to Sole Owners
The deal represents a significant leap from the family’s initial $3.8 billion bid and includes partnership with Mexican retailer El Puerto de Liverpool, which owns a 9.4% stake. Once finalized, the Nordstrom family—currently holding 33% of the company’s stock—will become majority owners. Key players in the acquisition include:
- Erik Nordstrom: CEO.
- Peter Nordstrom: Chief Brand Officer.
- Jamie Nordstrom: Chief Merchandising Officer.
This fourth-generation leadership team previously attempted to take the company private in 2018, but their efforts were unsuccessful.
A Lucrative Deal for Shareholders
Under the terms, Nordstrom shareholders will receive $24.25 per share in cash—a 42% premium over the stock’s price on March 18, 2024, before speculation about the buyout began circulating.
Industry Experts Weigh In
Retail expert Neil Saunders of GlobalData praised the family’s capability to manage the business:
“They will likely run the company as a retailer rather than as some kind of financial plaything.”
With over 350 locations, including numerous Nordstrom Rack stores, the family aims to refocus the company on core retailing values and long-term growth.
The move signifies a bold new chapter for Nordstrom, blending heritage leadership with ambitious strategies to navigate the evolving retail landscape.