Nordstrom has officially transitioned into a privately held company after finalizing a $6.25 billion all-cash acquisition with Mexican retail giant El Puerto de Liverpool.

Erik and Pete Nordstrom, descendants of company founder John W. Nordstrom, will serve as co-CEOs. As part of the deal, the company’s shares will be delisted from public trading.

The move to go private comes after a failed attempt over seven years ago. This time, the deal was first announced in December 2024. El Puerto de Liverpool, founded in 1847, operates hundreds of stores across Mexico under the Liverpool and Suburbia brands.

Analysts expect few visible changes in the short term, though cost-cutting measures may follow.

Nordstrom now runs more than 350 full-line and Rack stores, with a continued focus on expanding its off-price Rack segment.