US fashion retailer Express, Inc. (NYSE: EXPR) and brand management company WHP Global have announced a joint acquisition of internet men’s clothing brand Bonobos from retail giant Walmart Inc for a total price of $75 million.
Under the terms of the deal, WHP Global will acquire the Bonobos brand for $50 million, while EXPR will acquire Bonobos’ operating assets for $25 million and assume related liabilities.
Upon completion of the transaction, WHP Global and EXPR will enter into an exclusive, long-term licensing agreement with multiple renewal options, granting EXPR the u …
