Jos. A Bank buying Eddie Bauer in $825M deal

Jos. A. Bank Clothiers Inc. said Friday it is purchasing Eddie Bauer’s parent company in a cash-and-stock deal valued at $825 million that is designed to strengthen its men’s wear business and diversify its offerings.

Jos. A Bank, which is known for its 2-for-1 men’s suit sales, said it reached a deal with Everest Topco LLC to buy Everest Holdings LLC – that is if the buyer isn’t bought out first.

Men’s Wearhouse Inc. is looking to possibly acquire Jos. A Bank. Should Jos. A Bank receive a buyout offer that is attractive enough, it may end the Eddie Bauer deal, according to the Associated Press.  

Read more from the Associated Press.[[In-content Ad]]