Dress Barn closes deal to buy Tween Brands

Suffern, N.Y. Dress Barn completed its merger of Tween Brands on Wednesday, giving Tween shareholders 0.47 shares of Dress Barn stock for each share of Tween.

Tween Brands owns the Justice brand that caters to children from the ages of 7 to 14. It will now operate as a subsidiary of Dress Barn. Tween CEO Michael Rayden will run the unit and join Dress Barn's board.

Tween's shares were delisted from the NYSE and it is now free of bank debt, Dress Barn said. Tween and Dress Barn will continue to maintain separate headquarters. Dress Barn