Saks Fifth Avenue and Hudson's Bay store on Queen Street in Toronto.
Hudson's Bay Co. is considered North America's oldest retailer, tracing its origins back to 1670 in the fur trading business. The company evolved to a mercantile model in the mid-19th century. While HBC has made several purchases over the years, it has been particularly acquisitive since it was bought in 2008 by NRDC Equity Partners — a U.S. firm that was formed to buy Lord & Taylor from Macy's for $1.2 billion in 2006. Prior to its acquisition of Hudson's Bay, NRDC also acquired Fortunoff for $110 million in 2008. Following NRDC's acquisition of HBC, the company returned to the public markets on Nov. 26, 2012, trading on the Toronto Stock Exchange.1670English royal charter incorporated the company as The Governor and Company of Adventurers of England trading into Hudson's Bay.1869Through the Deed of Surrender between HBC and Canada, the company began taking control of its traditional territories in Canada.1922HBC acquired J.F. Cairns Limited Department Store in Saskatoon, Canada.1960HBC acquired Henry Morgan & Co., a Montreal-based department store chain, to expand into central Canada.1970Queen Elizabeth II grants HBC a new charter, and HBC becomes a Canadian company.1978HBC acquired a 57 percent ownership stake in 155 Zellers stores and 61 Fields outlets.1993HBC acquires Woodward's Department Stores Inc., allowing it to expand in the far west of Canada.2006HBC becomes a private U.S.-owned company following the acquisition by Jerry Zucker in a deal with an estimated value of $878 million.2008NRDC acquires HBC, which was operated through a holding company, Hudson's Bay Trading Co. The Hudson's Bay nameplate is primarily in enclosed malls, while sister chain Home Outfitters is in open-air shopping centers. The value of the transaction was undisclosed, but NRDC said it would investment $500 million in the new combined entity.2012NRDC dissolves Hudson's Bay Trading Co. HBC completes initial public offering and trades on Toronto Stock Exchange.2013HBC completes acquisition of Saks Inc., which operates Saks Fifth Avenue, for $2.9 billion.2015HBC acquires Galeria Kaufhof, a German department store chain, and a Belgian subsidiary from Metro Group for $3.2 billion.2016HBC acquires Gilt Groupe, best known for its flash sales, for $250 million.
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