Nordstrom to Go Private in $6.25B Deal With Founding Family, Mexican Retailer

Nordstrom announced on Monday that it will become a private company after it agreed to a buyout deal valued at roughly $6.25 billion from Nordstrom’s founding family and Mexican department store El Puerto de Liverpool. The company’s board of directors unanimously approved of the transaction, which is expected to close in the first half of 2025.

As part of the deal, the Nordstrom family will have majority ownership in the company, with 50.1 percent, and Liverpool will own 49.9 percent. Common shareholders will receive $24.25 in cash for each share of Nordstrom common stock they hold, according to a press release.

El Puerto de Liverpool operates two other department store chains, Liverpool and Suburbia, and owns 29 shopping centers across Mexico.

Total Retail's Take: The upscale department store chain has flirted with going private on other occasions, yet was never able to come to a deal with its board and shareholders. That is no longer the case. The $6.25 billion offer was too good for Nordstrom's board to turn down, and as such the company will enter into a new phase of its 120-plus year history. However, what won't be changing is the Nordstrom family will still be leading the organization, with Erik Nordstrom continuing on as CEO. It will be interesting to see the influence that El Puerto de Liverpool has on the business, including potential integration opportunities (merchandise, supply chain, technology) and market expansion.