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HBC, the parent of Saks Fifth Avenue, agreed to acquire Neiman Marcus Group in a deal valued at $2.65 billion, combining Saks Fifth Avenue, Saks Off 5th, Neiman Marcus and Bergdorf Goodman under a new company, Saks Global, backed by equity from Amazon, Rhône Capital, Insight Partners and Salesforce.

Saks Global closed its purchase of Neiman Marcus Group at a final enterprise value of $2.7 billion, bringing Neiman Marcus and Bergdorf Goodman together with Saks Fifth Avenue and Saks Off 5th under the new, technology-powered luxury retail company first announced in July.

Saks Global Enterprises and roughly 113 affiliates filed for Chapter 11 bankruptcy in the Southern District of Texas, seeking court approval for a $1 billion debtor-in-possession loan after missing a $100 million bond interest payment weeks earlier, a year after its debt-funded purchase of Neiman Marcus.