|
|
Bon-ton INC 公司历史：
The Bon-Ton Stores, Inc., now one of the largest independent retail department stores in the country, operates 272 department stores and seven furniture stores in 23 states, which encompass a total of approximately 27 million square feet across the Northeastern Midwestern and Great Plains states. The stores carry a broad assortment of quality brand-name fashion apparel and accessories for women, men and children, as well as distinctive home furnishings. The Company operates under the Bon-Ton, Bergner’s, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger’s and Younkers nameplates and enjoy a strong reputation for providing high-quality merchandise at competitive prices delivered with top-quality service in targeted markets. The Bon-Ton’s strategy is to carve out and maintain a niche in mid-sized markets. The Bon-Ton traces its roots to a one-room millinery and dry goods store which opened its doors in 1898 on Market Street
in York
, Pennsylvania
|
. Max Grumbacher started the business in partnership with his father, Samuel. He operated the business with a close attention to detail and a conviction that business success would come to those who, like himself, offered his customers quality merchandise at a fair price with careful attention to their individual needs and wants. Upon the death of Max Grumbacher in 1933, the business was continued by his widow, Daisy A. Grumbacher, and her two sons, Max Samuel and Richard. A partnership was formed in 1936. In 1961, Tim Grumbacher, son of Max Samuel and great-grandson of the founder, entered the business and today is the Executive Chairman of the Board of Directors. The success of the first Bon-Ton store mandated growth. In 1946, a second Bon-Ton, located in Hanover
, PA
, was opened, followed by the acquisition of Eyerly’s in Hagerstown
, MD in 1948 and McMeen’s in Lewistown, PA in 1957. The 1960s saw aggressive expansion with the establishment of a new retailing name – Mailmans – and the opening of new Eyerly’s and Bon-Ton’s in a number of communities in Pennsylvania and one in West Virginia. The McMeen’s name was retired in 1969.
In the 1970s, eleven new Bon-Ton, Eyerly’s and Mailmans were opened in southern Pennsylvania and West Virginia
as S. Grumbacher and Son replaced outmoded stores and continued to build on its growing reputation.
In the decade of the 1980s more growth occurred. New Bon-Ton, Eyerly’s and Mailmans were opened throughout the traditional trading areas; a new division called Maxwell’s was established; Fowler’s in Binghamton, NY
was acquired; and in 1987, the 11-store Pomeroy’s chain was acquired. Later, in the decade all the remaining Eyerly’s,
Mailmans and Maxwell’s stores were renamed either Bon-Ton or Pomeroy’s.
In August 1990, the company changed its logo and all Pomeroy’s were named The Bon-Ton. In 1991, the company decided to offer stock in the public market. Four and one-half million shares were sold and are currently traded on the Nasdaq market. The primary objective of this initial public offering was to expand the capital base to fund the company’s expansion plans.
Between 1991 and 1993, the company opened new stores in Ithaca, NY; Johnstown
, PA; Watertown, NY and Wilton, NY. In addition, the company acquired a two store chain located in Lancaster, PA in 1992.
In 1994, The Bon-Ton acquired the Buffalo based AM&A chain, adding ten stores in western New York; purchased 19 Hess’ stores, solidifying The Bon-Ton’s presence in eastern Pennsylvania and giving it a stronghold in the Lehigh Valley, the third-largest market area in the state and acquired certain assets of C.E. Chappell & Sons, Inc. (Chappell’s), a six unit department store company headquartered in Syracuse, NY. With this acquisition, The Bon-Ton entered three new markets in Central and Northern New York State
: the greater Syracuse metropolitan market with a four store presence and the secondary market of and Massena, NY.
In March, 1995, the company acquired three department store properties, and contracted to acquire a fourth, each located in one of the four dominant regional malls serving the Rochester, NY market, giving the company a presence in each of the four dominant regional malls serving the Rochester
market.
In 1998, the company opened a new store inJamestown, NY and Westfield
, MA.
In April 1999, the company opened new stores in Glens Falls, NY; Pottstown, PA; Red Bank and Brick, NJ; Concord, NH; Hamden, CT and Burlington, VT. Washington, PA; State College
, PA; Butler, PA and Hagerstown, MD stores were expanded and remodeled.
In 2000, the company opened one new store in Newburgh, NY
. Frederick, MD and Binghamton, NY stores were expanded and remodeled. The Scranton, PA store was relocated to Steamtown,PA. October 24, 2003, Bon-Ton completed its tender offer for all outstanding shares of common stock of The Elder-Beerman Stores Corp. (NASDAQ: EBSC) at a price of $8.00 per share in cash. Elder-Beerman became an indirect, wholly owned subsidiary of The Bon-Ton. Elder-Beerman operates 69 stores in the Midwest. March 6, 2006, Bon-Ton completed the acquisition of the Northern Department Store Group (“NDSG”) 0f Saks Incorporated, which consisted of 142
stores in 12 states. Under terms of the purchase agreement, Bon-Ton paid approximately $1.05 billion in cash, reflecting certain purchase price adjustments, for NDSG. With completion of the transaction, Bon-Ton will operate a total of 272 department stores and seven furniture stores in 23 states with approximately $3.4 billion in net sales for fiscal 2005.
And the growth of the company that started in a one-room millinery shop is far from over. The Bon-Ton Stores, Inc. is dedicated to sound growth, both in existing stores and from new stores and acquisitions, bringing to an ever-expanding customer base the same high-quality merchandise, fair prices and attention to detail that characterized the founder’s business over a century ago.
|
