Federated Department Stores, Inc., Cincinnati, will purchase Liberty House, Hawaii’s largest retailer and its only conventional department store group. Terms of the deal, which is expected to close in July, were not disclosed.
The acquisition will add 11 Liberty House department stores and seven resort and specialty stores in Hawaii, and one department store on Guam, to Federated’s San Francisco-based Macy’s West division. Liberty House generates approximately $275 million annually. Federated will maintain the Liberty House brand, but will ultimately convert the stores to Macy’s locations.
Federated currently operates more than 430 department stores in 33 states and Puerto Rico 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.
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