In recent months, HBC had an eye on the high-end outlet italia American chain which is struggling.

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The Canadian retailer the Hudson's Bay Company (HBC) acquires American luxury chain Saks, 2.9 billion dollars, including continuing to reposition its Bay stores to upscale.
The friendly bid is $ 16 per share of Saks, in addition to support its debt. This represents a premium of 5% on the value of an American retailer traded Friday.
In recent months, HBC had an eye on the high-end outlet italia American chain which is struggling. Saks chain has 42 stores, including its flagship store on 5th Avenue in New York.
For its part, HBC has 90 Bay stores outlet italia and 69 stores of household decoration items found throughout the country and HBC already has the American retailer Lord & Taylor. The combined companies will have revenues of over $ 7 billion Canadian dollars. HBC expects the economies of scale of $ 100 million per year by 2016.
Professor at HEC Montreal, Jacques Nantel, sees this purchase as a good thing, a transaction that also qualifies outlet italia as "reckless." "Because it any transaction of this magnitude then in retail, it takes nerves of steel to do this kind of movement, but Canadian retailers outlet italia do not really have a choice. "
Thus, Jacques Nantel outlet italia expects the deal could mean a homecoming for the Bay, a high-end outlet italia positioning as then department stores, Ogilvy, Simpsons and Eaton. "They reactualize the niche they had there thirty years. "
Benoit Duguay, a professor of Management Science at UQAM also sees this transaction as a good deal. For him, the Bay has just bought a brand. "The Bay just bought a prestigious image. People will enter the Bay and will say, "I entered the Bay, but it is they who have Saks." This affects buyers who will go to the Bay. , "He said.
The acquisition will also expand HBC Saks in Canada, said the joint statement outlet italia by the two companies, and to increase the growth potential of the brands in the United States and Canada. The CEO of the Hudson's Bay Company, Richard Baker, is expected to offer a better product for consumers.
"We will respect the integrity and image of the Saks brand," says Baker. "Saks is a strong and unique iconic brand that we will maintain and even strengthen. We intend to build on this brand associated with luxury trade. "
HBC, headquartered in Toronto, said she could transform some of its stores in the Bay Saks, it could open in existing buildings or build new ones.
Founded in 1670, the company HBC returned to the Toronto Stock Exchange last November (TSX: HBC), after passing into the hands of private interests, those of the American businessman Jerry Zucker man. In 2008, the company was purchased by the American real estate magnate Richard Baker, who has led the company.
Its title was also recently enhanced due to rumors of negotiations with Saks. Last year, HBC announced the death of its Zellers brand after selling the leases of 189 of its stores.
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