Galeria Kaufhof and Karstadt Announce Merger


Hudson’s Bay Company and Signa Holding has confirmed the merger of German department store chains Galeria Kaufhof and Karstadt. The merger will establish the third-largest department store chain in Europe, with combined sales of $6.3 billion, Reuters reports. Signa will maintain 50.01-percent stake in the combined entity, while Hudson’s Bay oversees the remainder.

The combined footprint will comprise 243 stores in Germany, Belgium and The Netherlands.

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