Headlines

Jos. A. Bank Turns to Eddie Bauer

Retailer reportedly talking to Golden Gate Partners about an acquisition

Published

10 years ago

February 3, 2014

steve kaufman

Jos. A. Bank Clothiers Inc. (Hampstead, Md.) is reportedly in talks to acquire Eddie Bauer (Bellevue, Wash.), the 94-year-old outdoor apparel and accessories retailer currently owned by Golden Gate Capital Partners (San Francisco).

Bauer, which had been in and out of bankruptcy before the Golden Gate acquisition in 2009, has 370 stores and now does more than $1 billion in annual sales.

Jos. A. Bank told Men’s Wearhouse Inc. (Houston) that it will not enter into buyout talks. It sent a letter saying the $57.50-a-share bid by Men’s Wearhouse “undervalues the company and that managers see no reason to enter negotiations.”

In October 2013, Golden Gate committed financing to help Jos. A. Bank buy Men’s Wearhouse, a $2.3 billion bid that Men’s Wearhouse rejected.

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