Saks parent company reportedly buying Neiman Marcus

DALLAS — Saks Fifth Avenue’s parent company has secured a $2.65 billion deal to buy its rival, Dallas-founded Neiman Marcus with help from Amazon, theThe luxury department store chains had been negotiating for months and had explored combining over the years, the newspaper reported.

HBC, which bought Saks in 2013, is financing the deal with $2 billion raised from existing investors, the newspaper reported.Neiman Marcus had previously filed forand came out of bankruptcy with less debt and new owners later that year, the Wall Street Journal reported. Neiman Marcus has 36 department stores, two Bergdorf Goodman stores and five Last Call discount stores. There are 39 Saks Fifth Avenue and 95 Saks Off 5th discount stores.founded

Eventually, all of Herbert Marcus, Sr.’s sons joined the company: Stanley and Edward in 1926; Herbert, Jr., in 1932; and Lawrence in 1944.

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