Destination XL receives acquisition proposal from Fund 1 Investments

By

Jennifer Braun

Published
December 24, 2024

Destination XL Group announced on Monday that it has received a non-binding acquisition proposal from Fund 1 Investments. 

The proposal outlines an offer to acquire all outstanding shares of the company, at the price of $3 a share. 

In a statement, Destination XL confirmed that its board of directors is conducting a thorough evaluation of the proposal in collaboration with its financial and legal advisors. 

“The board of directors regularly reviews opportunities to create and enhance shareholder value and will carefully review and evaluate this proposal and other strategic alternatives together with its financial and legal advisors,” the company said. 

Fund 1 Investments already owns a 10.6 percent stake in the men’s big and tall retailer.

For its third quarter ended November 2, the Canton, Massachusetts-based company said sales fell 9.8 percent to $107.5 million, on the back of a double-digit comparable sales declines.