 | |
| Company type | Private |
|---|---|
| Industry | Private equity |
| Founded | 2005 |
| Founders | Richard A. Baker Robert C. Baker William L. Mack Lee S. Neibart |
| Headquarters | New York City, New York, U.S. |
Key people | Richard A. Baker (Founding Partner) |
| Website | nrdcequity |
NRDC Equity Partners (NRDC) is an American private investment firm focused on retail, real estate, and consumer branded businesses.
NRDC was founded in 2005 [1] by Robert C. Baker, owner of National Realty & Development Corp; and William L. Mack and Lee S. Neibart, partners of AREA Property Partners. [2]
NRDC has completed five transactions since 2005, totaling almost $5 billion in enterprise values and has invested approximately $1.5 billion of equity for its transactions. NRDC targets transactions ranging from $250 million to $5 billion of enterprise value, requiring total equity investments of $50 million to $1.5 billion. [2] [3]
NRDC’s current portfolio consists of two of the leading companies in their sectors, Hudson's Bay Company (HBC) and Retail Opportunity Investments Corporation (ROIC).
HBC is the holding company that owns and manages over 57,000,000 square feet (5,300,000 m2) of retail properties located in Canada and the U.S. through its portfolio subsidiaries.
NRDC formed its real estate investment trust portfolio company, ROIC, through a public equity raise of $414 million completed in October 2009. ROIC focuses on acquiring and growing high quality shopping centers. It has invested over $200 million and has completed/announced 14 transactions as of September 2010. [3]
NRDC owned Lord & Taylor from 2006 to 2019, operating 50 department stores and four outlet centers located in the U.S. [4] The sale of the chain to Le Tote Inc. was announced in August 2019. [5] Home Outfitters, another subsidiary, operated 69 kitchen, bath, and bed superstores across Canada until closing in 2019. [6]
From 2015 to 2019 NRDC owned Germany's largest department store chain, Galeria Kaufhof. [7] [8] [9] On April 9, 2024 it was announced that NRDC intends to once again acquire the department store chain which had become known as Galeria Karstadt Kaufhof from the insolvent Signa Holding company. [10]
The Hudson's Bay Company is a Canadian retail business group. A fur trading business for much of its existence, it became the largest and oldest corporation in Canada, and now owns and operates retail stores across the country. The company's namesake business division is Hudson's Bay, commonly referred to as The Bay.
Zellers was a Canadian discount store chain founded by Walter P. Zeller in 1931. It was acquired by the Hudson's Bay Company (HBC) in 1978, and after a series of acquisitions and expansions, peaked with 350 locations in 1999. However, fierce competition and an inability to adapt during the retail apocalypse resulted in Zellers losing significant ground in the 2000s.
Hudson's Bay, also known as The Bay, is a Canadian department store chain. It is the flagship brand of the Hudson's Bay Company (HBC), the oldest and longest-surviving company in North America as well as one of the oldest and largest continuously operating companies in the world.
Metro AG is a German multinational company based in Düsseldorf which operates business membership-only cash and carry stores primarily under the Metro brand. As of March 2024, Metro is operating 626 wholesale stores in 21 countries, including Europe, Kazakhstan, and Pakistan.
The Robert Simpson Company Limited, commonly known as Simpson's until 1972, then as Simpsons, and in Quebec sometimes as Simpson, was a Canadian department store chain that had its earliest roots in a store opened in 1858 by Robert Simpson.
Lord & Taylor was the oldest-surviving department store chain in the United States. The company operated full-line department stores from 1826 until it filed for bankruptcy in 2020 and closed all brick-and-mortar stores in 2021. Saadia Group acquired the Lord & Taylor intellectual property and relaunched the e-commerce website later in 2021.
Fortunoff is a New York–based retailer of outdoor furniture and jewelry.
Karstadt Warenhaus GmbH was a German department store chain whose headquarters were in Essen. Until 30 September 2010 the company was a subsidiary of Arcandor AG and was responsible within the group for the business segment of over-the-counter retail.
Galeria Kaufhof GmbH was a German department store chain, headquartered in Cologne. It was a member of the International Association of Department Stores from 1930 to 2010, with various CEOs acting as presidents of the Association over time.
INNO, formerly branded Galeria Inno, is a Belgian department store chain that operates 16 stores. It is a subsidiary of German Galeria Karstadt Kaufhof.
Hudson's Bay Trading Company, L.P. was an American portfolio company for NRDC Equity Partners, a private equity company. Hudson's Bay Trading Company was founded in 2008.
Richard Alan Baker is an American business executive. He is the Governor, CEO, and Executive Chairman of Hudson's Bay Company (HBC) and executive chairman of each of HBC's eight portfolio companies. He is also the owner of National Realty and Development Corp. (NRDC), a US-based private real estate development and investment company, and is the Chairman of the Retail Opportunity Investments Corp. (ROIC), a public real estate company.
Horten AG (Aktiengesellschaft) was a German department store chain founded by Helmut Horten in 1936 and headquartered in Düsseldorf, Germany.
René Benko is a bankrupt Austrian real estate, media and retail investor and was founder of the Signa Holding. The company was considered Austria's largest privately held real estate conglomerate. Benko was considered one of the richest Austrians. Numerous controversies have surrounded Benko’s professional career. In March 2024 Benko declared personal insolvency.
The Karstadt München Bahnhofplatz is a department store of the Karstadt Warenhaus GmbH located in Maxvorstadt, Munich. The store will close on June 30, 2023.
Signa Holding GmbH is Austria's largest privately owned real estate company. Signa Holding GmbH announced insolvency proceedings at the end of November 2023. The company will apply for self-administration restructuring proceedings at the commercial court Vienna.
Brookfield Property Partners L.P. is a global commercial real estate firm that is a publicly traded limited partnership and a subsidiary of Brookfield Asset Management, an alternative asset management company. Its portfolio includes properties in the office, multi-family residential, retail, hospitality, and logistics industries throughout North America, Europe, and Australia. Its subsidiary Brookfield Properties is responsible for the management of these facilities.
Sycamore Partners is an American private equity firm based in New York specializing in retail and consumer investments. The firm has approximately $10 billion in aggregate committed capital.
Galeria Karstadt Kaufhof GmbH, based in Essen, Germany, is the second largest department store group in Europe, with 131 locations and 18,000 employees. The company was formed in 2018 with the merger of two of Germany's most historic department store chains, Galeria Kaufhof and Karstadt. On August 20, 2021, it was announced that all stores of both chains would be rebranded as Galeria. The first three stores and the online store were rebranded on October 27, 2021, with remaining stores following.