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