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The Delimited Process of Bidding for Mavis
We were incredibly mindful of the fact that fundamentally Mavis was a retailer in a world that's being upended by e-commerce and Amazon within the retail landscape. And then finally, the other big thing we had to wrestle with was it was a great business with a great team and you usually have to pay a full price for that. The decision was not just around valuation alone, but really finding a partner that could help take the business to the next level. We came to the party with a very comprehensive, fully articulated presentation about what the digital opportunities were.