USA: Federated Closes Deal On Purchase Of Liberty House
Federated Department Stores, announced yesterday that it has completed its acquisition of Liberty House, Hawaii's largest retailer. The total purchase price, including the assumption of debt and net of cash acquired, was approximately $200m. 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 department store division. With the new stores, Macy's West now operates 136 department and specialty stores. Annual sales for Macy's West in 2000 were $4.26bn.
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