Retail Update: Destination XL and FullBeauty Join Forces in Equal Merger
Merger Announcement: Destination XL Group (DXLG) is merging with FullBeauty Brands, creating a major player in inclusive and extended-size apparel in North America, with FullBeauty shareholders owning approximately 55% of the new entity.
Strategic Goals: The merger aims to enhance operational efficiency, accelerate growth, and improve customer experience by leveraging complementary strengths across brands and channels, with a focus on a direct-to-consumer sales model.
Financial Overview: The combined companies reported approximately $1.2 billion in sales over the last twelve months, with an adjusted EBITDA of around $45 million, expected to increase to $70 million after realizing $25 million in cost synergies.
Market Positioning: Post-merger, the new company will compete with mass retailers and brands like Target, Walmart, Lane Bryant, and Torrid, offering a diverse portfolio of products across various price points and lifestyles.
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