DESTINATION XL GROUP, INC.
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Zodiac Partners II, Llc has initiated a tender offer to acquire Destination XL Group, Inc. for $46 million. The offer is for $0.82 per share in cash. The news was reported by Reuters via Refinitiv and is a significant development for Destination XL Group (DXLG) shareholders.
Zodiac Partners II, LLC, an acquisition entity of Camac Fund, LP, has launched a cash tender offer to acquire all outstanding common shares of Destination XL Group, Inc. (NASDAQ: DXLG) for $0.82 per share. The offer is backed by an Equity Commitment Letter and an indicative $75 million revolving credit facility. This Schedule TO filing is a final amendment reporting the results of the tender offer, detailing the procedures for acceptance, payment, and conditions.
Destination XL Group, Inc. (NASDAQ:DXLG) reported a 5.8% decrease in comparable sales for the nine-week holiday period ending January 3, 2026, totaling $89.9 million. This decline reflects a challenging retail environment, particularly in stores, despite strategic promotions in their direct business. The company is set to merge with FullBeauty in the first half of fiscal 2026, a transaction expected to create a $1.2 billion retailer with approximately $25 million in cost synergies.
