Overview
- Boards of both companies unanimously approved the agreement, with closing targeted for the first half of fiscal 2026 subject to customary conditions and DXL shareholder approval.
- The combined company reports about $1.2 billion in trailing 12-month sales and approximately $45 million of Adjusted EBITDA, rising to roughly $70 million with $25 million in targeted annual run-rate synergies by 2027.
- The transaction is structured as an all-stock merger, leaving DXL as the publicly traded entity (Nasdaq: DXLG) with ownership split 55% to FullBeauty shareholders and 45% to DXL shareholders.
- Leadership will include FullBeauty CEO Jim Fogarty as chief executive and DXL’s Peter Stratton as CFO, with headquarters in Canton, Massachusetts and a nine-member board split 4/4 plus one independent.
- The combined platform spans a 73% direct-to-consumer mix, a reach of about 34 million households and 296 stores, supported at closing by a $92 million committed subscription and an expected ~$172 million term loan maturing in August 2029.