In May 2025, Nordstrom left the New York Stock Exchange after more than fifty years as a public company, following a deal with its second-largest shareholder (after the Nordstrom family), Mexico’s Puerto de Liverpool (which by then owned 9.6%), valuing the business at $6.25 billion. The move was then widely described as an acquisition by Liverpool: it is neither that nor an operational merger, but a family-led take-private in which members of the Nordstrom family hold 50.1% and control, while El Puerto de Liverpool holds 49.9% as a minority strategic and financial partner. In other words, Nordstrom continues to operate independently under the same leadership. 

For the department-store world, the interest in this deal lies less in its size than in its shape: a legacy U.S. retailer buying itself time away from public markets, financed and de-risked by a Latin American group extending its reach north without integrating operations.

IADS Exclusive: How Puerto de Liverpool helped the Nordstrom family to regain control 

IADS provides its members with a weekly in-depth analysis on retail-oriented topics.

*IADS Exclusives are for members only. You can subscribe to our Substack to receive our weekly exclusives here.*