Wal-Mart Stores, Inc. (NYSE: WMT) has agreed to buy online men's retailer Bonobos Inc. for $310 million in cash. The acquisition will help Wal-Mart expand Jet.com, which it acquired in 2016.
Bonobos, founded in 2007, is an online seller of men's apparel. In addition to e-commerce, New York-based Bonobos owns 35 physical stores across the U.S. The company also has a distribution deal with Nordstrom Inc. (NYSE: JWN).