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Retailer Jos. A. Bank to buy Eddie Bauer for $825 million

A shirt and tie are displayed at a Jos. A. Bank retail store on October 9, 2013 in San Francisco, California.
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A shirt and tie are displayed at a Jos. A. Bank retail store on October 9, 2013 in San Francisco, California.

Men's clothing retailer Jos. A. Bank Clothiers said it would acquire the Eddie Bauer clothing brand from private equity firm Golden Gate Capital for an enterprise value of $825 million.

Jos. A. Bank will pay $564 million in cash and issue about 4.7 million new shares to Everest Topco, the parent company of Eddie Bauer and a portfolio company of Golden Gate.

Jos. A. Bank expects the deal to immediately add to earnings, and said it expects the combined company's revenue to exceed $2.1 billion in 2014.

(Read more: Men's Wearhouse top investor backs Jos. A. Bank bid)

By Reuters

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