Subway and bankrupt big box stores are also on the block.
The retail industry represented a paltry 2.2% of global M&A market share in Q1 2023, but is set to make more headlines this quarter.Walmart continues to unwind Marc Lore's DTC buying spree, selling two more companies in just the past week.
Eloquii, a plus-sized fashion brand purchased in 2018 for $100 million, was sold to FullBeauty Brands for an undisclosed amount. Bonobos, a menswear brand acquired in 2017 for $310 million, was sold to WHP Global and Express for $75 million. This follows recent Walmart divestitures of Art.com and Moosejaw , plus the shuttering of Jet.com and sales of Modcloth and Bare Necessities.Salt Lake City-based convenience store chain Maverik on Friday agreed to buy Iowa-based rival Kum & Go. No financial terms were disclosed, but earlier reports suggested that Kum & Go's founding family was seeking $2 billion.
Subway keeps inching toward a $10 billion sale, with Sky News reporting that three private equity firms are working on a joint offer.
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