Solomon Partners Advised Bare Necessities on its Sale to Walmart
On October 12, 2018, Walmart (“WMT”) announced it had acquired BareWeb Inc. (“Bare Necessities”), a leading online intimates retailer offering over 100,000 SKUs from more than 160 brands. Founded in 1998 and headquartered in Edison, NJ, the Bare Necessities team brings deep category expertise, operational capabilities and a content offering designed to educate intimates shoppers. As part of the transaction, Bare Necessities founder and CEO Noah Wrubel will lead the intimates category for both Walmart.com and Jet.com, while also continuing to run Bare Necessities.
Solomon Partners acted as a financial advisor to Bare Necessities. This transaction demonstrates Solomon Partners’ expertise in omnichannel retailing and advising founder-owned businesses in strategic exits.