NRDC Acquires Hudson’s Bay Co.
Purchase, N.Y. NRDC Equity Partners announced on Wednesday that it has acquired Toronto-based Hudson’s Bay Co. NRDC owns retailers Lord & Taylor and Fortunoff. all three brands, along with the NRDC-owed Creative Design Studios (CDS), will now be part of a holding company called Hudson’s Bay Trading Co.
The NRDC name will be dropped from the ownership entity.
NRDC purchased Hudson’s Bay from The InterTech Group, which is controlled by the Zucker family of South Carolina.
According to a report in Women’s Wear Daily, the new holding company will represent more than $8 billion in sales, about 75,000 employees and 55 million sq. ft. of space in the United States and Canada.
NRDC said it plans to invest $500 million into the combined company. In addition, there are plans to launch 10 to 15 Lord & Taylor stores in Canada.
Hudson’s Bay operates The Bay, Zellers, Home Outfitters, and Fields, all in Canada.
Richard Baker, NRDC president and CEO, will serve as CEO of the Hudson’s Bay Trading Co. and will also have the title of governor of the Hudson’s Bay Co.
NRDC has held a 20% stake in Hudson’s Bay, which was majority owned by the Zucker Family and Baker has been a member of the board since 2006.
“By acquiring Hudson’s Bay Co., along with previous acquisitions Lord & Taylor and Fortunoff, we will have an unprecedented opportunity to recreate the retail landscape in North America,” Baker said. “Enormous potential exists by upgrading the offerings at both The Bay and Zellers and by bringing Lord & Taylor, Fortunoff and CDS into the mix.”
Gibson USA appoints new execs
COMMERCE, Calif. Gibson USA, a leading housewares manufacturer, has announced two new hires. Veteran housewares executive Jack Kurilla will serve as the company’s new director of sales, and retail sourcing specialist Connie Bowman will take over as director of product development.
With Gibson?s 30th anniversary next year, Kurilla?s focus will be on increasing the company’s market share in an industry where vendors are faced with challenges such as retailer consolidation and rapidly-rising material costs.
Kurilla comes to Gibson following tenures at the Zrike Company, Zwilling J.A. Henckels, Groupe SEB and Krups, among others.
Bowman will lead Gibson’s multi-category development group, and will be reponsible for sourcing needs for products across a range of materials that include metals, ceramics, plastics, woods, natural fibers and others. With over 20 years in the retail industry focused on product development and global sourcing, her resume includes positions at U.S. Sales Corp. and Big Lots. Most recently, she served as a managing director for 99 Cents Only Stores.
“In the 30 years since my father founded this company, we?ve seen good economies and bad, but we?ve always continued to grow,” said company principal and Gibson ceo Sal Gabbay. “Connie and Jack are two examples of Gibson?s commitment to growth.”
Nintendo, Atari launch new ‘Naked Chef’ game/cookbook combo
Nintendo has entered into an exclusive partnership with Atari and celebrity chef Jamie Oliver to launch “What’s Cooking? with Jamie Oliver,” a combination cooking game and interactive cookbook, starring the English chef, more commonly known as The Naked Chef. The game will be created by Atari exclusively for Nintendo DS and is scheduled to ship to North American in October 2008.
The game will walk players through making dishes and meals and will feature 100 original recipes from Jamie Oliver. It will provide an interactive shopping list with ingredients chosen from different recipes and will organize them by food type to help players/consumers get in and out of the supermarket efficiently. Also, up to 100 recipes created by users can be saved in the game and shared online.
“What’s Cooking? with Jamie Oliver” also offers games in which players can use the Nintendo DS’ stylus to chop, stir and serve meals in 3D virtual kitchens. Players can also challenge friends to cook-offs or races.