Nordstrom

Nordstrom family close to finding buyout partner, report says

Nordstrom family close to finding buyout partner, report says

Nordstrom family members are close to choosing private equity firm Leonard Green & Partners to help fund a buyout of the Seattle-based fashion retailer that bears their name, CNBC reported, citing people familiar with the matter.

Leonard Green would provide the Nordstrom family members with about $1 billion in equity to help fund the deal, CNBC reported Tuesday.

In early June the company disclosed family members were considering a bid to take the company private.

The Nordstrom family members — company co-Presidents Blake Nordstrom, Peter Nordstrom and Erik Nordstrom; President of Stores James Nordstrom; Chairman Emeritus Bruce Nordstrom; and Anne Gittinger,...