HBC merges its European business with Signa’s Karstadt

Hudson’s Bay Company (HBC) has entered into definitive agreements with Signa Retail Holdings, to form a strategic partnership for its European retail and real estate assets. The development would see HBC Europe's retail operations merge with Signa's Karstadt Warenhaus GmbH, with HBC taking a 49.99 percent interest in the combined businesses. This, the company said, includes Galeria Kaufhof and Karstadt, as well as other HBC and Signa banners to create a well-capitalized retailer positioned for improved profitability.