Jos. A Bank Clothiers Inc. (Nasdaq: JOSB), which has been in a buying tussle with Men's Wearhouse Inc. (NYSE: MW) since October, is buying private equity-backed retailer Eddie Bauer for $825 million.
Eddie Bauer sells active, outdoor and lifestyle brand clothing for men and women. The transaction adds new categories, such as women's apparel and footwear, to Jos. A. Bank's offerings, which consist of men's suits, casual wear, sportswear, footwear and accessories. Although the companies will operate separately, Jos. A. Bank expects they will both benefit from about $25 million in process and infrastructure synergies.