Pursuits
Men’s Wearhouse to Buy Joseph Abboud for $97.5 Million Cash
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Men’s Wearhouse Inc., the menswear retailer that ousted its founder last month, agreed to buy the Joseph Abboud clothing brand for $97.5 million in cash as the chain seeks to offer exclusive brands.
The purchase of JA Holding Inc. from funds affiliated with J.W. Childs Associates LP is expected to close in the third quarter, Houston-based Men’s Wearhouse said today in a statement.