Walmart to Acquire Bonobos for $310 Million USD
The multinational retail giant continues its e-commerce push.
After starting out with a focus on pants and eventually pushing into everything from activewear and suiting to outerwear and accessories, New York-based Bonobos has been acquired by Walmart. According to the American multinational retailing corporation, the deal is for $310 million USD in cash and will close around the end of this year’s second fiscal quarter or at the start of the third. The acquisition marks just the latest for Walmart in its bid to ramp up its e-commerce presence: Walmart bought Jet.com last year before acquiring ModCloth, ShoeBuy.com and Moosejaw in the months since.
In other acquisition news, Amazon continued its hot streak today, adding Whole Foods to its arsenal — to the tune of $13.7 billion USD.
