The Men's Wearhouse, Inc. announced that it has engaged the advisory firm, AlixPartners, to support its integration of Jos. A. Bank Clothiers, Inc. Doug Ewert, Men's Wearhouse president and chief executive officer, commented, "We are pleased to announce that we have engaged AlixPartners to support our integration of Jos. A. Bank.
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 $100 to $150 million 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 U.S. men's apparel retailer with pro forma sales of approximately $3.5 billion. Once the transaction has received all necessary regulatory approvals, we expect to close in a timely fashion and begin a smooth integration.
As we have previously stated, there will be no rebranding or remodels required – Jos. A. Bank's store banner will remain in place. Men's Wearhouse expects to implement the best practices of both companies to drive further operational and financial success. Management will consist of the most qualified individuals from both organizations," added Ewert.
AlixPartners is a leading global business advisory firm specializing in creating value and improving performance at every stage of the business life cycle. Since 1981, AlixPartners has been trusted advisors to corporate boards and management, law firms, investment banks, investors, and others who value independent strategic thinking, critical insights, and actionable expertise.
About Men's Wearhouse
Founded in 1973, Men's Wearhouse is one of North America's largest specialty retailers of men's apparel with 1,124 stores. The Men's Wearhouse, Moores and K&G stores carry a full selection of suits, sport coats, furnishings and accessories in exclusive and non-exclusive merchandise brands and Men's Wearhouse and Tux stores carry a limited selection. Most K&G stores carry a full selection of women's apparel. Tuxedo rentals are available in the Men's Wearhouse, Moores and Men's Wearhouse and Tux stores.