M&A Deal Summary

Express and WHP Global Acquire Bonobos

On April 13, 2023, Express and WHP Global acquired apparel/textiles company Bonobos from Walmart for 75M USD

Acquisition Highlights
  • This is Express’ 1st and WHP Global’s 6th transaction in the Apparel/Textiles sector.
  • This is Express’ and WHP Global’s 2nd largest (disclosed) transaction.
  • This is Express’ 1st and WHP Global’s 8th transaction in the United States.
  • This is Express’ 1st and WHP Global’s 4th transaction in New York.

M&A Deal Summary
Date 2023-04-13
Target Bonobos
Sector Apparel/Textiles
Buyer(s) Express
WHP Global
Sellers(s) Walmart
Deal Type Divestiture
Deal Value 75M USD

Target

Bonobos

New York, New York, United States
Bonobos is a clothing brand focused on delivering great fit, excellent customer experience, and a fun approach to menswear. Launched online in 2007 with its signature line of better-fitting men's pants, Bonobos is one of the leading apparel brands ever built on the web in the United States. In 2011 Bonobos extended offline, launching Bonobos Guideshops, e-commerce stores that deliver personalized, one-to-one service to those wanting to experience the brand in person. Bonobos was formed in 2007 and is based in New York City.

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Buyer(S) 2

Buyer

Express

Columbus, Ohio, United States
Category Company
Founded 1980
Sector Retail
Employees3,300
Revenue 1.9B USD (2023)
DESCRIPTION

Express is a specialty retailers, a preferred young and sophisticated designer brand for work and casual wear among fashion-forward young women and men. Express was founded in 1980 and is based in Columbus, Ohio.

DEAL STATS #
Overall 1 of 1
Sector (Apparel/Textiles) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
Buyer

WHP Global

New York, New York, United States
Category Company
Founded 2019
Sector Apparel/Textiles
DESCRIPTION

WHP Global acquires and manages consumer brands. The Company seeks out and acquires global consumer brands across all category verticals, and then focuses on building those brands in high-growth distribution channels including digital commerce platforms, product licensing, and through global expansion. WHP Global was founded in 2019 and is based in New York, New York.

DEAL STATS #
Overall 9 of 11
Sector (Apparel/Textiles) 6 of 8
Type (Divestiture) 4 of 4
State (New York) 4 of 5
Country (United States) 8 of 9
Year (2023) 1 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-08 Express

Columbus, Ohio, United States

Express is a specialty retailers, a preferred young and sophisticated designer brand for work and casual wear among fashion-forward young women and men. Express was founded in 1980 and is based in Columbus, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 G-Star Raw

Amsterdam, Netherlands

G-Star RAW is a Dutch clothing company with retail stores around the world. The Company focuses on youth oriented styles including denim, jackets, and other apparel. G-Star Raw was formed in 1989 and is based in Amsterdam.

Buy -

Seller(S) 1

SELLER

Walmart

Bentonville, Arkansas, United States
Category Company
Founded 1945
Sector Retail
Employees2,100,000
Revenue 611.3B USD (2023)
DESCRIPTION
Entrance to Walmart's corporate campus in Bentonville, Arkansas.
Entrance to Walmart's corporate campus in Bentonville, Arkansas.

Walmart is a discount retailer with operations across the globe. Walmart operates Wal-Mart Stores, Supercenters, Neighborhood Markets and SAM?S CLUBS in the US. Internationally, the company operates in Puerto Rico, Canada, China, Mexico, Germany, United Kingdom, Argentina, and South Korea. Walmart was formed in 1945 and is based in Bentonville, Arkansas.

DEAL STATS #
Overall 8 of 10
Sector (Apparel/Textiles) 1 of 2
Type (Divestiture) 7 of 9
State (New York) 1 of 1
Country (United States) 5 of 7
Year (2023) 2 of 3
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-22 Moosejaw

Madison Heights, Michigan, United States

Moosejaw is a multi-channel retailer of premium quality outdoor apparel and equipment. Moosejaw was founded in 1992 and is based in Madison Heights, United States.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-21 Eloquii

Columbus, Ohio, United States

Eloquii is a digitally native vertical brand that offers fashion and on-trend apparel starting at size 14 exclusively through its website and select wholesale accounts. The company offers on-trend, fast-fashion clothing and adds fresh, new runway-inspired styles. It introduces new collections and influencer collaborations regularly. Eloquii is based in Columbus, Ohio.

Sell -
Mergr

Product

Company

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