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.
Editors' Picks
Sponsored by
More on Majors
The Latest
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
MajorsAug 07, 2026
Etsy to Lay Off 12% of WorkforceEtsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
