Home / Knowledge / News / Apparel/Garments / Dress Barn completes merger with Tween Brands
Dress Barn completes merger with Tween Brands
26
Nov '09
The Dress Barn, Inc. announced that it has completed its merger with Tween Brands, Inc. Tween Brands stockholders will receive 0.47 shares of Dress Barn common stock for each share of Tween Brands.

Tween Brands, Inc., which operates the Justice retail store brand, will operate as a separate subsidiary of The Dress Barn, Inc. and, as of the merger, will be free of bank debt. The combined company operates 2,492 locations and, on a trailing twelve month basis, generated $2.5 billion of pro forma net sales.

Through its well known brand, Justice, Tween Brands provides the hottest fashion merchandise and accessories for tween (age 7-14) girls and is the largest premier tween specialty retailer in the world. Its management team, led by Michael Rayden, Chief Executive Officer of Tween Brands, will continue to lead Justice's future growth and operations. Mr. Rayden will join the Board of Directors of Dress Barn, Inc. and report directly to David Jaffe, President and Chief Executive Officer of Dress Barn, Inc. The corporate headquarters of Dress Barn will remain in Suffern, New York and Tween Brands will remain headquartered in New Albany, Ohio.

With the completion of the merger, Tween Brands shares were delisted from the NYSE and trading ceased at the close of business on Wednesday, November 25th.

“I am delighted to announce the completion of this exciting merger with Tween Brands,” said David Jaffe. “We have worked diligently to complete this transaction and we look forward to working together with the Tween Brands team to fully realize the significant potential of this business. I believe that our combined company will be formidable and have significant competitive advantages.”

Michael Rayden commented, “Our Justice customers embrace the value proposition of our brand because Justice has everything our girl needs at a competitive price, with the fun shopping experience and industry-leading fashion assortment she wants. Our success has allowed us to continue to increase our share of the $12 billion Tween Girl apparel market.

“This momentum, combined with the completion of the merger and partnership with dressbarn and maurices, has us energized as we look forward to the future. Our efforts can now be solely focused on our customers and we plan to utilize this exciting and powerful new platform to further our growth. And we are excited that our former Tween Brands stockholders can continue along with us on this journey, investing in our future through their Dress Barn shares,” said Rayden.

Banc of America Merrill Lynch Securities acted as financial advisor and Proskauer Rose LLP as legal advisors for Dress Barn, Inc. Peter J. Solomon Company acted as financial advisor and O'Melveny & Myers LLP as legal advisors for Tween Brands, Inc.

Dress Barn Inc


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search