US: Men's Wearhouse eyes $150m savings through merger
Men's Wearhouse has engaged advisory firm AlixPartners to support the integration of Jos A Bank
Last month, Men's Wearhouse secured a deal to acquire the US men's apparel and footwear business following a five-month merger tussle between the two firms.
The company has since engaged advisory firm AlixPartners to support the integration of Jos A Bank, which it says will involve implementing the "best practices of both companies to drive further operational and financial success".
Men's Wearhouse CEO, Doug Ewert, said: "AlixPartners' vast experience in retail as well as in large merger integration situations will provide significant support to our company's goal of achieving an estimated $100m to $150m of annual run-rate synergies over three years through improving purchasing efficiencies, optimizing customer service and marketing practices and streamlining duplicative corporate functions."
The combination of Men's Wearhouse and Jos A Bank will produce the fourth largest US men's apparel retailer with pro forma sales of around $3.5bn.
The company reiterated there will be no re-branding or remodels as part of the deal and the Jos A Bank's store banner will remain in place.
"Management will consist of the most qualified individuals from both organizations," Ewert added.
The Global market review of Workwear which was first published by just-style in 2010 proved to be one of our best selling reports to date. Hardly surprising then, that there has been much anticipation...
Men's Wearhouse has closed its acquisition of US men's apparel and footwear business Jos A Bank Clothiers following a long-running battle by the firm to buy its rival....
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