Retailer Neiman Marcus Group Ltd. LLC is buying Mytheresa.com, an online luxury business.

Dallas-based Neiman is also buying the company's flagship store in Munich, where the business is headquartered. MyTheresa.com was founded by Christoph and Susanne Botschen in 2006, and sells luxury apparel and accessories to customers in more than 120 countries. Mytheresa.com was sold by Munich private equity firm Acton Capital Partners.

The deal should help Neiman, which has stores only in the U.S., reach Europe, the Middle East and Asia by accessing luxury shoppers globally without opening more physical stores. The target will be run as an independent subsidiary and remain based in Munich. The acquisition could help Neiman compete with high-end online retailers, such as Net-a-Porter. The buyer also owns luxury retailer Bergdorf Goodman.

Ares Management LLC (NYSE: ARES) and Canada Pension Plan Investment Board agreed to buy Neiman for $6 billion in 2013. 

Morgan Stanley acted as Neiman's financial adviser for the deal, while Proskauer Rose LLP and Hengeler Mueller provided legal advice. Altium Capital and Goldman Sachs were the sellers' financial advisers, and Milbank and Guett Olk Feldhaus acted as legal counsel.

Other recent consumer goods and retail investments include 1-800-Flowers.com's purchase of Harry & David for $143 million earlier in September.  In August, HIG Growth Partners invested in online retailer LuLu's Fashion Lounge.  For more on investing in the retail sector, see Boutique Appeal

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