The Sidley Austin team included mergers and acquisitions partners Gary Gerstman, Derek Zaba, and Scott Williams, who played critical roles in shaping the agreement.
A Vision for Nordstrom’s Future
Erik Nordstrom heralded the transaction as an opportunity to secure the company’s legacy. “For over a century, Nordstrom has operated with a foundational principle of helping customers feel good and look their best,” he said. “Today marks an exciting new chapter for the business. On behalf of my family, we look forward to ensuring Nordstrom thrives long into the future.”
Founded in 1901 as a Seattle shoe store, Nordstrom has evolved into a retail giant with over 350 Nordstrom, Nordstrom Local, and Nordstrom Rack locations. The deal’s financial structure includes rollover equity from both Nordstrom and Liverpool, $450 million in new bank financing, cash commitments from Liverpool, and existing company funds.
Liverpool’s Strategic Partnership
Graciano F. Guichard G., Liverpool’s executive chairman, highlighted the synergy between the two entities. “Nordstrom is one of the worldwide leaders in department store retailing, and we’re thrilled to be investing in a company that has meaningfully shaped the industry for nearly 125 years,” he said. “We are honored to partner with the Nordstrom family and their talented team.”
