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Deal Detail

Neiman Marcus Group, Inc. to Ares Management LLC and Canada Pension Plan Investment Board, Ares Management, CPPIB, CPPIB & Ares

General RetailDiscount & Department/Sep 2013
EV / LTM EBITDA
9.1x
EV / LTM Sales
1.3x
Enterprise Value
$6.1B
Primary Source
Centerview

Comparable Transactions

General Retail transactions announced in the five years to September 2013. 15 with a disclosed multiple.

DateTargetAcquirorEnterprise ValueEV/SalesEV/EBITDAType
Sep 2013The Yankee Candle Company, Inc.Jarden Corporation--8.5xStrategic
Jul 2013Saks IncorporatedHudson Bay Company (HBC)$2.9B0.9x10.9xStrategic
Jul 2013Shoppers Drug Market CorporationLoblaw Companies Limited--11.3xStrategic
Feb 2013Office Max Inc.Office Depot, Inc.$1.8B-12.2xStrategic
Nov 2012The Brick Ltd.Leon's Furniture Limited$800M-7.1xStrategic
Nov 2012Oriental Trading Company, Inc.Berkshire Hathaway Inc.$500M-7.1xStrategic
Jun 2012Alliance Boots GmbHWalgreen Company$30.8B-12.1xStrategic
May 2012Cost Plus Inc.Bed Bath & Beyond Inc.$700M-12.7xStrategic
May 2012Charming Shoppes, Inc.Ascena Retail Group$800M-9.9xStrategic
Feb 2012Pep BoysThe Gores Group$1.0B-6.1xStrategic
Oct 201199 Cents Only StoresAres Management, Ares Management LLC and the Canada Pension Plan Investment Board--9.0xFinancial
Dec 2010Jo-Ann Stores, Inc.Leonard Green, Leonard Green & Partners, L.P.$1.5B-7.3xFinancial
Nov 2010J.Crew Group, Inc.Leonard Green, TPG$2.7B-8.6xFinancial
Feb 2010Duane Reade, Inc.Walgreen Company$1.1B-11.4xStrategic
Aug 2009Barnes & Noble College BooksellersBarnes & Noble, Inc.--5.2xStrategic
Mean-9.3x
Median-9.0x

All Observations

Source-specific multiples and notes for this transaction.

CompPrimary?Source TypeSourceSource AdvisorSource YearEV (USD)EV/SalesEV/EBITDAEV/Fwd EBITDANoteCitation
Primaryfairness opinionJWN FOCenterview2024$6.1B1.3x9.1x-Department StoresOpen
-fairness opinionHSN FOGoldman Sachs2017$6.0B-9.4x-https://www.sec.gov/Archives/edgar/data/1434729/000110465917063169/a17-17148_8ex99dc17.htm#Exhibitc17CONFIDENTIALBoardofDir_125353Open
-fairness opinionSPLS FOMorgan Stanley2017--9.4x--Open
-fairness opinionSPLS FOBarclays2017--9.4x--Open
-fairness opinionSPLS FOBarclays---9.4x--Open