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Benjamin Fitzgerald Published December 24, 2024 Reading time
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Saks closes on $2.7 billion purchase of Neiman Marcus Group

By

Benjamin Fitzgerald Published
December 24, 2024

Saks Global announced on Monday it has finalized its acquisition of Neiman Marcus Group for a total enterprise value of $2.7 billion, as previously reported.

Saks Global now includes Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks Off 5TH, each continuing to serve customers under their own brand, according to a press release from the luxury retail and real estate company.

Under the deal, Marc Metrick will serve as CEO of Saks Global operating group, and Ian Putnam will serve as CEO of Saks Global properties & investments. Both will report to Richard Baker, Saks Global’s executive chairman.