Taubman Centers
Taubman - Creating Extraordinary Retail Environments.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
In 1950, with a $5,000 loan, A. Alfred Taubman founded the company that would become a pioneer in American retail. Taubman Centers started by developing shopping centers, opening its first in Flint, Michigan, in 1953. The company's key insight was to build and operate high-end, enclosed shopping malls, a concept it helped popularize across the country. This focus on premium properties became its hallmark, leading to a portfolio of some of the most productive and upscale malls in the United States and Asia. The company, managed by the Taubman family, including sons Robert and William, went public in 1992 through an IPO structured as a Real Estate Investment Trust (REIT). This move provided capital for further growth while allowing the family to maintain significant control. For decades, Taubman Centers thrived by creating high-quality retail environments that consistently generated high sales per square foot. However, the retail landscape shifted, and in 2020, a major event reshaped the company's future. After surviving a hostile takeover attempt from the same firm years earlier, Taubman Centers agreed to be acquired by its larger rival, Simon Property Group. In a deal valued at approximately $3.6 billion, Simon acquired an 80% ownership stake, while the Taubman family retained a 20% interest, ensuring their continued involvement in the business they had built over 70 years.
