Federated Adds Liberty House for $200M
Federated Department Stores Inc. has completed its acquisition of Liberty House for $200 million, Federated said yesterday. The purchase price includes the assumption of debt.Liberty House's 11 department stores and seven specialty stores in Hawaii, and one department store on Guam, are now part of Federated's San Francisco-based Macy's West division.
With the new stores, Macy's West now operates 136 department and specialty stores. Sales for Macy's West were $4.26 billion last year.
Federated, Cincinnati, is one of the nation's leading department store retailers, with annual sales of more than $18.4 billion. Federated operates more than 450 stores in 34 states, Puerto Rico and Guam under the names of Macy's, Bloomingdale's, The Bon Marche, Burdines, Goldsmith's, Lazarus and Rich's, as well as macys.com, bloomingdales.com and Bloomingdale's By Mail. Federated also operates the Fingerhut catalog and e-commerce subsidiary.
