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Lord & Taylor to be Acquired in $100M Deal

The deal announced today calls for Hudson’s Bay Co. to receive $ $75 million in cash upon the transaction’s closing and a secured promissory note for $25 million payable in cash after two years.

Lord & Taylor’s store at the Ridge Hill shopping center in Yonkers, NY. Lord & Taylor’s store at the Ridge Hill shopping center in Yonkers, NY.

SAN FRANCISCO—Locally-based Le Tote Inc. a women’s fashion rental subscription service, has reached an agreement with Hudson’s Bay Co. of Toronto to acquire iconic retailer Lord & Taylor.

The deal announced today calls for Hudson’s Bay Co. to receive $75 million in cash upon the transaction’s closing and a secured promissory note for $25 million payable in cash after two years. In addition, HBC will receive an equity stake in Le Tote, two seats on the company’s Board of Directors and certain rights as a minority shareholder.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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