Men’s Wearhouse has signed an agreement to buy the parent company of American men’s clothing brand Joseph Abboud.
The price paid by the clothing chain was approximately $97.5 million in cash, subject to certain adjustments.
The parent company, JA Holding, is currently majority-owned by funds affiliated with J.W. Childs Associates. The transaction is expected to close in the third quarter of 2013.
Joseph Abboud had been producing jewelry through Aston Luxury Group, but the group is no longer the licensee for that brand.