Destination XL Group Acquired by Zodiac Partners II | Consumer M&A Deal

Zodiac Partners II has launched a going private acquisition of Destination XL Group, a retail apparel business in Florida, for $46 million. Destination XL Group operates stores selling big and tall men’s clothing, and Zodiac Partners II acquisitions target the consumer retail footprint in FL. The all-cash tender offer values shares at $0.82 per share and is positioned as a retail acquisition alternative for shareholders seeking immediate value. As a private equity acquisition, Zodiac Partners II aims to complete the going private acquisition without relying on synergy projections, citing concerns about debt burden from a potential merger with Full Beauty. Zodiac Partners II plans to amend its Schedule TO after engaging with shareholders and expects to move toward a definitive agreement within about 45 days if access and conditions are resolved.