Men’s Warehouse has no news about closing or merging local stores, and the word from the California-based retailer appears to be “steady as she goes,” as Men’s Wearhouse completes acquisition of Jos. A. Bank Clothiers, Inc.

The board of directors of the company also declared a quarterly cash dividend of $0.18 per share on common stock, payable Sept. 26.

Analyst’s Review is reporting Men’s Wearhouse subsidiary Java Corp. purchased all the issued and outstanding shares of Jos. A. Bank common stock for $65.00 net per share, in cash.

Men’s Wearhouse has one store in Exton and there are five Jos. A. Bank stores throughout greater Chester County.   Founded in 1973, Men’s Wearhouse is one of North America’s largest specialty retailers of men’s apparel with 1,766 stores.

“We are thrilled to have closed on the acquisition of Jos. A. Bank and are eager to begin the integration process with their talented employees to create a truly great company for all of our stakeholders,” said Doug Ewert, Men’s Wearhouse president and CEO.

“With more than 1,700 stores,” Ewert continued, “approximately 26,000 employees and sales of $3.5 billion on a pro forma basis, our combined company has increased scale and breadth that broadens our best-in-class offerings for our valued customers and new customers alike.”

Full notes on the acquisition are at: http://www.analystsreview.com/Jun-27-2014/MW/report.pdf

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