NRDC Equity Partners (National Retail and Development Company Equity Partners; NRDC) is an American private investment firm focused on retail, real estate, and consumer branded businesses.

History

NRDC was founded in 2006 by

Robert C. Baker Robert C. Baker (December 29, 1921 – March 13, 2006) was an American inventor and Cornell University professor. He invented the chicken nugget as well as many other poultry-related inventions. Due to his contributions to the poultry sciences, ...

, owner of National Realty & Development Corp; and

William L. Mack William "Bill" L. Mack (April 1, 1924 – February 17, 2009) was a provincial level politician from Alberta, Canada. He served as a member of the Legislative Assembly of Alberta from 1979 to 1982. Political career Mack ran for a seat to the Al ...

and Lee S. Neibart, partners of AREA Property Partners. NRDC has completed five transactions since 2006, totaling almost $5 billion in

enterprise values Enterprise value (EV), total enterprise value (TEV), or firm value (FV) is an economic measure reflecting the market value of a business (i.e. as distinct from market price). It is a sum of claims by all claimants: creditors (secured and unsecured) ...

and has invested approximately $1.5 billion of equity for its transactions. NRDC targets transactions ranging from $250 million to $5 billion of enterprise value, requiring total equity investments of $50 million to $1.5 billion.http://www.nrdcequity.com

Portfolio

NRDC’s current portfolio consists of two of the leading companies in their sectors,

Hudson's Bay Company The Hudson's Bay Company (HBC; french: Compagnie de la Baie d'Hudson) is a Canadian retail business group. A fur trading business for much of its existence, HBC now owns and operates retail stores in Canada. The company's namesake business div ...

(HBC) and Retail Opportunity Investments Corporation (ROIC). HBC is the holding company that owns and manages over of retail properties located in Canada and the U.S. through its portfolio subsidiaries. * Hudson's Bay operates 90 department stores located in Canada *

Saks Fifth Avenue Saks Fifth Avenue (originally Saks & Company; Colloquialism, colloquially Saks) is an American Luxury goods, luxury department store chain headquartered in New York City and founded by Andrew Saks. The original store opened in the F Street and ...

, technically owned by Hudson's Bay, operates 42 department stores and 65 ''OFF 5th'' outlet stores in the U.S. NRDC formed its real estate investment trust portfolio company, ROIC, through a public equity raise of $414 million completed in October 2009. ROIC focuses on acquiring and growing high quality shopping centers. It has invested over $200 million and has completed/announced 14 transactions as of September 2010. NRDC owned Lord & Taylor from 2006 to 2019, operating 50 department stores and four outlet centers located in the U.S. The sale of the chain to

Le Tote Le Tote is an online women's clothing rental business in the United States which uses a subscription box model. It was founded in 2012 by Brett Northart (now President) and Rakesh Tondon (now CEO). In 2019, Le Tote acquired Lord & Taylor. Le T ...

Inc. was announced in August 2019.

Home Outfitters Home Outfitters (known as Déco Découverte in Quebec; originally called Bed, Bath & More) was a Canadian retail home decor chain, owned by Hudson's Bay Company, that sold bedding, towels, housewares, and other home accessories. All 37 remaining s ...

, another subsidiary, operated 69 kitchen, bath, and bed superstores across Canada until closing in 2019.https://www.cbc.ca/news/business/hbc-home-outfitters-1.5028740, HBC shutting all 37 Home Outfitters stores across Canada

References

External links

National Realty & Development Corp.
{{DEFAULTSORT:Nrdc Equity Partners Financial services companies established in 2006 Private equity firms of the United States Hudson's Bay Company Holding companies established in 2006 2006 establishments in New York City