Walmart’s $310 Million Acquisition of Bonobos


Citi is serving as financial advisor to Bonobos for the transaction and Fenwick & West LLP is serving as its legal advisor. Weil, Gotshal & Manges LLP and Hogan Lovells are serving as legal advisors to Walmart for the transaction.

The acquisition, which is subject to regulatory approval, is expected to close toward the end of the second quarter or the beginning of the third quarter of this fiscal year. Following the closing, Andy Dunn, founder and CEO of Bonobos will report to Marc Lore, president and CEO of Walmart U.S. eCommerce, and will oversee the company’s collection of digitally-native vertical brands. The acquisition of Bonobos and the leadership of Dunn will create more new products for consumers and new ways to buy them. The brands will be offered on Jet.com and possibly other Walmart brands in a variety of countries over time, and include Bonobos and ModCloth.


The Fenwick transaction team included corporate lawyers Mark Stevens (Picture), Ethan Skerry, Ken Myers, Kate Withers, Brady Douglas, Shweta Kumar, Shen Zhang and Patrick Vergara; executive compensation and employee benefits lawyers Scott Spector, Mona Clee, Marshall Mort, Hans Andersson and Patrick Grilli; technology transactions lawyers Stephen Gillespie, Justin Baumli, Ari Fink, Lindsay Tang, Julia Chung, Emily Lippincott and Jalila Sparks; antitrust and regulatory lawyers Mark Ostrau and Ashley Walter; and tax lawyers Adam Halpern, Ora Grinberg and Seevun Kozar.????????

Involved fees earner: Mark Stevens – Fenwick & West LLP; Ethan Skerry – Fenwick & West LLP; Ken Myers – Fenwick & West LLP; Kate Withers – Fenwick & West LLP; Brady Douglas – Fenwick & West LLP; Shweta Kumar – Fenwick & West LLP; Shen Zhang – Fenwick & West LLP; Patrick Vergara – Fenwick & West LLP; Scott Spector – Fenwick & West LLP; Mona Clee – Fenwick & West LLP; Marshall Mort – Fenwick & West LLP; Hans Andersson – Fenwick & West LLP; Patrick Grilli – Fenwick & West LLP; Stephen Gillespie – Fenwick & West LLP; Justin Baumli – Fenwick & West LLP; Ari Fink – Fenwick & West LLP; Lindsay Tang – Fenwick & West LLP; Julia Chung – Fenwick & West LLP; Mark Ostrau – Fenwick & West LLP; Ashley Walter – Fenwick & West LLP; Adam Halpern – Fenwick & West LLP; Ora Grinberg – Fenwick & West LLP; Seevun Kozar – Fenwick & West LLP;

Law Firms: Fenwick & West LLP;

Clients: Bonobos, Inc.;

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Author: Ambrogio Visconti