Some of the largest online retailers, fulfillment companies and technology providers made mergers and acquisitions in 2025, reshuffling some major retail industry portfolios for 2026.
And while some of these mergers and acquisitions in 2025 were the result of bankruptcy filings (like Joann’s), many were expansion plays. They featured a retailer that sold part of its robotics business, as well as home improvement retailers that made big B2B plays. Furthermore, they highlight what some of the largest retailers are doing to increase their leverage in their respective markets within the retail industry.
Among the transactions were:
- Mergers to form new companies
- Retailers going private through acquisitions
- Publicly owned retailers making acquisitions to strengthen their businesses
- Retailers that expanded businesses outside the U.S.
- Marketplaces acquisitions
- Retailers selling parts of their business
- Fulfillment companies expanding their networks
- Technology companies acquiring businesses
Below are some of Digital Commerce 360’s biggest stories from 2025 surrounding mergers and acquisitions.
1. Mergers
JCPenney announces merger with SPARC Group
The merger forms a new entity, Catalyst Brands, which launches with more than $9 million in revenue, the new company announced. Additionally, it has 1,800 physical store locations, 60,000 employees and $1 billion of liquidity.
Tempur Sealy becomes Somnigroup following Mattress Firm merger
Tempur Sealy, Dream and Mattress Firm all continued on as brands under the new Somnigroup International.
C&S–SpartanNash merger aims to accelerate B2B grocery ecommerce
C&S Wholesale Grocers LLC agreed to acquire SpartanNash Co. for $1.77 billion in cash. The deal signaled a shift toward tech-enabled, ecommerce-driven growth in the B2B grocery supply chain.
US Foods ends PFG talks, reinforces digital expansion strategy
The companies decided to end merger discussions and terminate an information-sharing process. That decision underscores the distributor’s commitment to accelerating its own ecommerce and technology initiatives rather than pursuing a large-scale integration.
2. Retailers that went private through acquisitions
Claire’s North America business to be acquired out of bankruptcy in private equity deal
An Ames Watson affiliate agreed to the acquisition, which included Claire’s intellectual property and stores in North America.
ODP Corp. and Office Depot go private in $1 billion sale to Atlas Holdings
Atlas Holdings, based in Greenwich, Connecticut, owns 29 companies across manufacturing, distribution, packaging, paper, supply chain, and related sectors.
Skechers reaches deal to be acquired and go private
3G Capital and Skechers announced the private equity deal on May 5.
The Vitamin Shoppe to be acquired by private equity
Kingswood Capital Management and Performance Investment Partners reached a deal to acquire The Vitamin Shoppe after its owner, Franchise Group, filed for bankruptcy.
Walgreens goes private in $23.7 billion acquisition deal
The deal also included a “go-shop” period in which Walgreens has 35 days to evaluate and enter into negotiations with parties offering alternative proposals. By the end of August, it began operating as a private company.
3. Public retailers making acquisitions
Dick’s Sporting Goods announces acquisition of Foot Locker
The $2.4 billion acquisition of Foot Locker made Dick’s Sporting Goods an international retailer with access to about 2,400 more store locations.
Grove Collaborative acquires Grab Green, 8Greens
The deal for Grove to acquire Grab Green’s assets extends the brand’s history on Grove’s site, which started in 2019.
A month later, the 8Greens acquisition accompanied Grove’s return to revenue growth in its fiscal Q4.
Home Depot completes acquisition, eyes digital expansion for pro customers
Home Depot has completed its $5.5 billion acquisition of GMS Inc., bringing the specialty building products distributor under its SRS Distribution subsidiary and signaling a push to expand digital and fulfillment services for professional contractors.
Lowe’s acquisitions of Artisan Design Group (ADG) and Foundation Building Materials (FBM)
The ADG acquisition in April significantly increases Lowe’s digital footprint in B2B construction services, as the company seeks to capitalize on long-term trends in homebuilding, property development and digitally enabled trade procurement. Then, in August, Lowe’s announced its $8.8 billion acquisition of FBM. Beyond its physical network, Foundation Building Materials brings digital tools that will strengthen Lowe’s B2B ecommerce capabilities.
Michaels acquires Joann IP and Big Twist brands
The yarn products will join a growing portfolio at Michaels as it acquires Joann’s brands following bankruptcy.
3.5 Continuing the Bed Bath & Beyond saga
In February, Beyond Inc. (now Bed Bath & Beyond) acquired Buy Buy Baby. The acquisition reunited brands Bed Bath & Beyond and Buy Buy Baby under the same umbrella after they had separated in 2023 as a result of bankruptcy filings.
In March, Beyond sold a major stake in Zulily for $5 million. Despite the change in ownership, Zulily continued to operate under its existing name with a relaunch of its ecommerce platform planned, according to the CEO of Proozy, which now owns the brand.
In May, Beyond reached a $5.2 million deal to acquire Kirkland’s intellectual property. Through the agreement, Beyond would expand an existing credit arrangement while acquiring Kirkland’s IP outright. Kirkland’s then rebranded under the new ownership, becoming The Brand House Collective, Inc. Then, in November, Bed Bath & Beyond agreed to acquire The Brand House Collective in a deal worth $26.8 million.
4. Expanding in foreign markets
Ulta announces acquisition of Space NK
The Space NK acquisition came shortly after Ulta named an interim chief financial officer. The retailer’s CEO called international expansion integral and said the acquisition offers “a unique and strategically compelling opportunity to enter the growing UK market.”
Steve Madden steps forward to buy Kurt Geiger
In a deal valued at $365 million, Steve Madden absorbed Kurt Geiger’s portfolio of brands.
5. Marketplace making acquisition
eBay makes acquisitions to support vehicle and secondhand markets
In January, eBay acquired Caramel to expedite vehicle transactions. EBay Motors is a leading destination for automotive parts and accessories, and the integration of Caramel’s platform enables secure and efficient vehicle purchases across all U.S. states.
Then, in September, it announced it would acquire a Norwegian secondhand-fashion marketplace called Tise. The companies did not disclose the deal’s terms, but the acquisition gives eBay access to millions of Tise users in Europe.
6. Selling part of business
Dickies owner VF Corp. to sell brand for $600 million
New owner Bluestar Alliance planned to add Dickies to its portfolio, which included Off-White, Hurley and Brookstone.
ThredUp sells European business to focus on US
The company also released preliminary unaudited financial results for its fiscal Q4 ending Dec. 31, 2024. It expects sales to range between $66.7 million and $67.2 million.
Walmart strikes deal for Symbotic to acquire robotics business
The $200 million acquisition also included Walmart investing $520 million in Symbotic’s AI-powered robotics platform.
7. Fulfillment and logistics
DHL Supply Chain acquires Inmar Supply Chain Solutions, then IDS Fulfillment
The first deal, completed in January, brought the division of Inmar Intelligence’s 14 return centers and around 800 employees under DHL Supply Chain. Then, in May, DHL Supply Chain acquired IDS Fulfillment to expand U.S. ecommerce. That deal brought more than 1.3 million square feet of multi-client warehouse and distribution space under DHL’s umbrella.
Ingka Group, the largest franchisee of Ikea, acquires Locus for AI-enabled logistics
The Locus acquisition adds new delivery capabilities for Ikea as it enhances its logistics options. Ingka Group is the largest franchisee of Ikea. Historically, Ikea has relied on a patchwork of third-party providers to deliver — and sometimes assemble — its products.
Pitney Bowes’ acquisition takes a piece of Royal Alliances
Under the acquisition, Royal Alliances’ presort business joined Pitney Bowes, which hoped to expand its own fulfillment capabilities.
Stord acquires UPS’s Ware2Go, expanding fulfillment
Ware2Go had recently closed a $200 million equity and debt round, valuing the business at $1.5 billion.
8. Tech companies
Salesforce announces two acquisitions in May
It announced its acquisition of Convergence.ai, which it planned to close during Salesforce’s fiscal second quarter. Convergence previously raised $12 million in pre-seed funding in 2024. Its investors included Balderton Capital, Salesforce Ventures and Shopify Ventures. Weeks later, Salesforce reached an $8 billion deal to acquire Informatica. Marc Benioff, the CEO and chairman at Salesforce, called the Informatica acquisition the result of two decades of discussions.
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