Hudson’s Bay Company to Acquire Gilt

January 7, 2016

HBC will continue to grow its successful off-price business through the integration of Gilt with Saks OFF 5TH locations.

On January 7, Willkie client Hudson's Bay Company (HBC) announced that it has agreed to acquire Gilt Groupe Holdings, Inc. for $250 million in cash, subject to customary requirements. The transaction reflects HBC’s ongoing focus on advancing its all-channel model while continuing to grow its successful off-price business through the integration of Gilt with Saks OFF 5TH locations.

Gilt is a leading and innovative online shopping destination, offering its members special access to inspiring fashion merchandise and experiences. With more than 9 million members and approximately 50% of orders generated on its mobile platform, Gilt has cultivated a loyal and devoted millennial following.

HBC’s portfolio includes nine banners, with more than 460 stores and 65,000 employees around the world. In North America, HBC’s leading banners include Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue and Saks OFF 5TH, along with Find @ Lord & Taylor and Home Outfitters. In Europe, its banners include Galeria Kaufhof, the largest department store group in Germany, and Belgium’s only department store group Galeria INNO, as well as Sportarena.

The Willkie deal team was led by partners Gordon Caplan, Gregory Astrachan and Michael Brandt and included partners Anthony Carbone and Michael Katz; associates Jeffrey Daniel, Michael Casas, Frances Dales, Timothy Andree, Kapiljeet Dargan, Bradley Brown, Rose Ohanesian, Jennifer Schanes, Natalie Whitaker, Jacob Moss, Amir Ghavi and Dorna Mohaghegh; and law clerks Hugh McLaughlin and Steven Grant.