$4.8b Deal Will Unite Outlet and Retail Titans ; Simon to Purchase Roseland's Chelsea
The Record, Bergen County, NJ › June 22, 2004
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Summary
Simon Property Group, the world's largest manager of shopping malls, announced plans Monday for the $4.8 billion purchase of Roseland-based Chelsea Property Group and its 35 upscale outlet centers.
The purchase adds Harriman, N.Y.'s tony Woodbury Common - home of designer outlets like Prada and Gucci, where off-price bargains can still cost thousands - to Simon's rosters. It also gives Simon its first foothold in Japan, where Chelsea owns four outlet malls. In New Jersey, Chelsea owns Liberty Village Outlet in Flemington and Jackson Village Outlet in Jackson.See the full content of this document
Extract
$4.8b Deal Will Unite Outlet and Retail Titans ; Simon to Purchase Roseland's Chelsea
The deal grew out of discussions between Simon CEO David Simon and Chelsea CEO David Bloom as they worked together in recent years to develop outlet centers in Orlando, Fla.,...
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