Men’s Wearhouse to acquire Joseph Abboud for $97.5 million

Fremont, Calif. – The Men’s Wearhouse has signed a definitive agreement to acquire JA Holding, the parent company of the Joseph Abboud clothing brand, for approximately $97.5 million.

JA Holding’s product lines include Joseph Abboud, JOE Joseph Abboud, Joseph Abboud Boys and Joseph Abboud Home. The purchase agreement also includes a US tailored clothing factory employing about 450 people.

“This transaction accelerates our strategy of offering exclusive brands with broad appeal at attractive prices,” said Doug Ewert, president and CEO of Men’s Wearhouse.

Brand founder and creator Joseph Abboud has served as chief creative director of Men's Wearhouse since December 2012.

The transaction is expected to close in third quarter 2013.