Liberty House sold for $200 million
Staff and News Services
The purchase of Hawai'i retail chain Liberty House cost Federated Department Stores Inc. approximately $200 million, including the assumption of debt, the retail giant said yesterday as it announced the completion of the deal.
Gregory Yamamoto • The Honolulu Advertiser
Liberty House's 11 department stores and seven specialty stores in Hawai'i, and one department store on Guam, now officially are part of Federated's San Francisco-based Macy's West department store division. Macy's West now operates 136 department and specialty stores.
Retail giant Federated Department Stores Inc. has acquired Liberty House's 11 department stores and seven specialty stores in Hawai'i and its department store on Guam.
Annual sales for Macy's West last year were $4.26 billion. Liberty House has annual sales of about $275 million.
The Liberty House stores are the first locations in Hawai'i for Cincinnati-based Federated.
Federated, which announced its acquisition of Liberty House last month, had sales of $18.4 billion last year.
Federated, with corporate offices in Cincinnati and New York, is one of the nation's leading department store retailers.
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.
