Deals
Wal-Mart Agrees to Acquire Bonobos as Amazon Steals Spotlight
- Retail giant will pay $310 million in long-awaited deal
- Amazon’s Whole Foods takeover sends Wal-Mart shares tumbling
The Brewing Battle Between Amazon and Wal-Mart
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Wal-Mart Stores Inc. announced its long-awaited acquisition of online clothing seller Bonobos Inc., just in time to have Amazon.com Inc. steal the spotlight with its own deal.
Wal-Mart will pay $310 million in cash for the apparel upstart, which focuses on fitted clothing for men. Andy Dunn, Bonobos’s founder and chief executive officer, will continue to oversee the brand while reporting to Wal-Mart e-commerce head Marc Lore.