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Article: In acquisition mode: NRDC buys Peter Som, says more deals ahead.(NRDC Equity Partners LLC and Peter Som Inc.)
- Article from:
- WWD
- Article date:
- September 7, 2007
- Author:
CopyrightCOPYRIGHT 2007 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: David Moin
NEW YORK - In a small deal presaging potentially bigger developments, NRDC Equity Partners LLC has bought a majority stake in Peter Som Inc. and has high-end retail on its radar.
NRDC has been eyeing other designer brands, with a deal in men's wear brewing, and is fueling a revival of its trophy acquisition, Lord & Taylor, purchased for $1.1 billion in 2006 from Federated Department Stores Inc., now called Macy's Inc. The Som deal confirms a report in WWD on Feb. 8.
"We're very intrigued with high-quality luxury brands, whether they are retailers or designers who could have their own retail stores, among other things," ...