Dive Summary:

• Reports from Bloomberg indicate that Men’s Wearhouse has agreed to take over clothing brand Joseph Abboud worth a reported $97.5 million.
• The buyout will reunite current Men’s Wearhouse creative director Joseph Abboud with the clothing line he founded, and will provide the retail company a new signature clothing line.
•  The company currently controls over 1,100 store locations and recently replaced executive and founder George Zimmer in a widely-publicized event.

From the article:

Men’s Wearhouse rose 0.1 percent to $38.95 yesterday in New York. The shares have gained 25 percent this year, compared with an 18 percent increase for the Standard & Poor’s 500 Index.