Comprehensive M&A data with integrated detailed company information

Wal-Mart to purchase Bonobos
Posted on Monday, 19 June 2017 10:18
Wal-Mart Stores is acquiring online men’s clothing retailer Bonobos in an all-cash deal worth USD 310.00 million.

The selling shareholders include founders Andy Dunn and Brian Spaly, as well as venture capitalists Accel Management and Glynn Capital Management.

Established in 2007, New York-based Bonobos began its clothing retailing business by selling chino pants online.

It has since expanded its product portfolio to include other apparel like men’s shirts and suits.

Apart from its online presence, Bonobos also operates physical stores where customers can try on clothes and have their purchased items mailed to them later.

Commenting on the transaction, Walmart’s chief executive Marc Lore said: “We’re seeing momentum in the business as we expand our value proposition with customers and it’s incredible to see how fast we’re moving.

“Adding innovators like Andy will continue to help us shape the future of Walmart, and the future of retail.”

Subject to regulatory approvals, the deal is expected to close by the end of August this year.

The announcement follows a series of acquisitions by Wal-Mart, with the most notable being its purchase of a 12.1 per cent stake in JD.com, a Chinese e-commerce firm listed on Nasdaq, for USD 7.35 billion less than six months ago.

Last September, it also took over Jet.com, a Hoboken, New Jersey-based online retailer, in a deal worth around USD 3.30 billion.

Wal-Mart posted revenue of USD 485.87 million in the 12 months ended 31st January 2017, up slightly from the USD 482.13 million recorded in the previous year.

Net income from continuing operations during the period totalled USD 13.64 million, a 7.2 per cent decrease from USD 14.69 million in 2016.

According to Zephyr, the M&A database published by Bureau van Dijk, there have been 158 announced or completed deals targeting clothing retailers in 2017 to date.

© Zephus Ltd