The world’s largest brick-and-mortar retailer is in advanced discussions to acquire Bonobos, a 10-year-old men’s fashion retailer based in New York City. Sources say the two sides have agreed on a price — which wasn’t immediately learned — and that the deal is in its final due diligence stages.
The deal would mark at least the fourth e-commerce acquisition by Walmart digital chief Marc Lore since Walmart acquired his company Jet.com seven months ago. The acquisitions include women’s online retailer ModCloth, outdoor gear seller MooseJaw and online shoe site ShoeBuy. Lore also bought online furniture retailer Hayneedle while Jet.com was still independent.
The largest of the Walmart deals under Lore was $70 million, but sources say Bonobos will go for more than that. The company has between $100 million and $150 million in annual revenue and is in better financial shape than ModCloth, which sold for less than 1x revenue.
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