MajorsJul 29, 2024
Saks Global to Lay Off About 100 Employees, Reshuffle ExecutivesMajorsDec 24, 2024
Nordstrom Family, Partner to Take Retailer Private in $6B Deal
Members of the founding family have partnered with Mexican retail company El Puerto de Liverpool to acquire Nordstrom.
The Nordstrom Men’s Store in New York City. The Seattle-based retailer is set to go private after being acquired by members of the Nordstrom family and Mexican retail company El Puerto de Liverpool.
Seattle—Nordstrom Inc. will soon go private, set to be acquired by members of the founding family and a retail partner.
Erik, Pete, and Jamie Nordstrom, alongside other members of the Nordstrom family, teamed up with Mexican retail company El Puerto de Liverpool to purchase the retailer in an all-cash transaction valued at $6.25 billion.
In September, the family and the retailer offered to buy the company for $3.8 billion in cash, or $23 per share.
The Seattle-based department store chain had attempted to go private in 2017, courting private equity firms, but turned down an $8.4 billion offer in 2018 due to the “low” price.
“Nordstrom is one of the worldwide leaders in department store retailing, and we're thrilled to be investing in a company that has meaningfully shaped the industry for nearly 125 years,” said Graciano F. Guichard G., executive chairman of the board of directors of Liverpool.
Shareholders will receive $24.25 per share, which is a premium of approximately 42 percent compared to its share price on March 18, as per Nordstrom’s press release. That’s the last day the stock was traded prior to news spreading that it may go private.
Its shares currently trade on the New York Stock Exchange.
The retailer’s $2.7 billion in debt will remain outstanding.
At the close of the transaction, the Nordstrom family will have a majority ownership stake in the company with 50.1 percent owned by the family and 49.9 percent owned by Liverpool.
“We're grateful to the employees, customers and shareholders who have shaped Nordstrom into the company it is today,” said Pete Nordstrom, chief brand officer of Nordstrom.
“Since our founding in 1901, we have been committed to providing our customers with the best possible service and to improving it every day. We look forward to building on that commitment in this next phase of the company's evolution.”
The retailer’s board of directors, minus Erik and Pete Nordstrom who had recused themselves, unanimously approved the transaction following the unanimous recommendation of a special committee of independent and disinterested directors.
“Following a rigorous and independent evaluation and consultation with outside financial and legal advisors, the special committee unanimously concluded that this transaction offers greater value for all public shareholders at a significant premium to the unaffected share price,” said Eric Sprunk, chairman of the special committee.
The board will also authorize a special dividend of up to 25 cents per share when the transaction is complete.
Related stories will be right here …
Erik, Pete, and Jamie Nordstrom, alongside other members of the Nordstrom family, teamed up with Mexican retail company El Puerto de Liverpool to purchase the retailer in an all-cash transaction valued at $6.25 billion.
In September, the family and the retailer offered to buy the company for $3.8 billion in cash, or $23 per share.
The Seattle-based department store chain had attempted to go private in 2017, courting private equity firms, but turned down an $8.4 billion offer in 2018 due to the “low” price.
“Nordstrom is one of the worldwide leaders in department store retailing, and we're thrilled to be investing in a company that has meaningfully shaped the industry for nearly 125 years,” said Graciano F. Guichard G., executive chairman of the board of directors of Liverpool.
Shareholders will receive $24.25 per share, which is a premium of approximately 42 percent compared to its share price on March 18, as per Nordstrom’s press release. That’s the last day the stock was traded prior to news spreading that it may go private.
Its shares currently trade on the New York Stock Exchange.
The retailer’s $2.7 billion in debt will remain outstanding.
At the close of the transaction, the Nordstrom family will have a majority ownership stake in the company with 50.1 percent owned by the family and 49.9 percent owned by Liverpool.
“We're grateful to the employees, customers and shareholders who have shaped Nordstrom into the company it is today,” said Pete Nordstrom, chief brand officer of Nordstrom.
“Since our founding in 1901, we have been committed to providing our customers with the best possible service and to improving it every day. We look forward to building on that commitment in this next phase of the company's evolution.”
The retailer’s board of directors, minus Erik and Pete Nordstrom who had recused themselves, unanimously approved the transaction following the unanimous recommendation of a special committee of independent and disinterested directors.
“Following a rigorous and independent evaluation and consultation with outside financial and legal advisors, the special committee unanimously concluded that this transaction offers greater value for all public shareholders at a significant premium to the unaffected share price,” said Eric Sprunk, chairman of the special committee.
The board will also authorize a special dividend of up to 25 cents per share when the transaction is complete.
The transaction is expected to close in the first half of 2025, subject to regulatory and other conditions.
It requires the approval of holders of two-thirds of the company's common stock and the holders of a majority of the shares of the company not owned by the Nordstrom Family or Liverpool or their respective affiliates and the company's directors and Section 16 officers.
The transaction will be financed through a combination of rollover equity by the Nordstrom Family and Liverpool, cash commitments by Liverpool, up to $450 million in borrowings under a new $1.2 billion bank financing agreement, and the company’s cash on hand.
“For over a century, Nordstrom has operated with a foundational principle of helping customers feel good and look their best,” said Erik Nordstrom, CEO of Nordstrom.
“Today marks an exciting new chapter for the business. On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future.”
Nordstrom ranked No. 12 on National Jeweler’s 2024 “$100 Millon Supersellers” list, with an estimated $533 million in jewelry and watch sales in 2023.
Fellow retailer Macy’s had also been in talks to go private, but ultimately ended the buyout talks this past summer, while HBC, the parent company of Saks Fifth Avenue, entered into an agreement in July to acquire Neiman Marcus Group, which owns Neiman Marcus and Bergdorf Goodman.
More on Majors
The Latest
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
SourcingMar 03, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
SurveysMar 02, 2026
Consumer Confidence Edges Up in FebruaryConsumers were somewhat less worried about the future, though concerns about rising prices and politics remained.
Events & AwardsMar 02, 2026
JVC to Honor Rebecca Foerster at Annual LuncheonFoerster is this year’s Stanley Schechter Award recipient.
Events & AwardsMar 02, 2026
JFC Names 2026 ‘Facets’ Honorees Sponsorships and tickets to the annual fundraising event, set for May 31, are available now.
CrimeFeb 27, 2026
Man Charged in Murders of Father, Son Jewelers in ChicagoChicago police and members of the U.S. Marshals Service tracked down the 35-year-old suspect earlier this week in St. Louis.
SourcingFeb 27, 2026
South African Diamond Mine Closes Amid Search for Missing WorkersOwners of the Ekapa Mine reportedly filed for liquidation about a week after a mudslide trapped five workers who have yet to be found.
MajorsFeb 27, 2026
Jewelers Mutual to Donate $10M to Savannah College of Art and DesignA 10-year alliance has also begun to address the shortage of bench jewelers through scholarships, enhanced programs, and updated equipment.
CollectionsFeb 27, 2026
Renato Cipullo Turns Gold into HardstonesThe “Splendente” collection has evolved to feature hardstone letter pendants, including our Piece of the Week, the onyx “R.”
AuctionsFeb 26, 2026
Noonans to Auction Lady Wardington’s JewelryThe jewelry collection belonged to “one of society's most glamorous and beautiful women of the mid-20th century,” said the auction house.
SourcingFeb 26, 2026
Anglo American CEO Gives Insight Into De Beers SaleThe update came as Anglo took its third write-down on the diamond miner and marketer, which lost more than $500 million in 2025.
