Luxury goods Group, The Neiman Marcus Group, Inc., has announced that a definitive agreement to sell the company to two equity groups in a cash deal worth $5.1-billion.

Under the terms of the agreement, Texas Pacific Group and Warburg Pincus will acquire all of the outstanding Class A and Class B shares of The Neiman Marcus Group for $100.00 per share in cash, representing a transaction value of approximately $5.1 billion.

The Group’s operations include specialty retail stores including Neiman Marcus, Bergdorf Goodman, Kate Spade leather goods and Laura Mercier cosmetics lines. The Direct Marketing segment conducts both print catalog and online operations under the Neiman Marcus, Horchow and Bergdorf Goodman brand names.

Share this story: