Clothing rental firm Le Tote will acquire department store Le Tote from Hudson Bay in a cash deal worth $100m . The deal is expected to close before less than a decade ago and, post-acquisition, Le Tote will extend its clothing rental service to Lord & Taylor customers. Hudson's Bay, based in Canada, also owns Saks Fifth Avenue. As part of the agreement, Hudson Bay will gain a minority stake in Lord & Taylor and 38 board seats.
Clothing rental firm Le Tote will acquire department store Le Tote from Hudson Bay in a cash deal worth $100m . The deal is expected to close before less than a decade ago and, post-acquisition, Le Tote will extend its clothing rental service to Lord & Taylor customers. As part of the agreement, Hudson Bay will gain a minority stake in Lord & Taylor and 38 board seats.