Neiman Marcus Acquisition By Ares Management Complete

Ares Management LLC and Canada Pension Plan Investment Board announced that their affiliates have completed the acquisition of Neiman Marcus Group LTD Inc. for a purchase price of approximately US $6 billion.

“We are very pleased with the successful outcome of this transaction,” said Karen Katz, Neiman Marcus group president and CEO. “We look forward to partnering with Ares Management and CPPIB. We believe the future for Neiman Marcus Group is bright.”