Nordstrom Inc. has accepted a bid valued at $6.25 billion from the Nordstrom family and Mexican retailer El Puerto de Liverpool to take the company private.

Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal.

Nordstrom will be go private after it's acquired for $6.25 billion by Nordstrom family members and El Puerto de Liverpool, a Mexican department store chain.

The great-grandsons of Nordstrom’s founder lead a family group which will take over the company after 53 years on public markets.

As part of the deal, the Nordstrom family will have majority ownership in the company, with 50.1%, and El Puerto de Liverpool will own 49.9%.

Nordstrom will be acquired by its founding family and Mexican retailer Liverpool for nearly $4 billion in an all-cash deal, going private at a time when high-end retailers are grappling with slow demand.