Dive Summary:

• Men’s Wearhouse has finalized its purchase of Joseph Abboud clothing line for a reported $97.5 million in an all cash deal, according to figures released by the San Francisco Business Times.
• "This accelerates our strategy of offering exclusive brands with broad appeal at attractive prices.  Current and future customers will benefit from authentic American designer clothing, manufactured in the USA, at unparalleled value,” says Mens Wearhouse CEO Doug Ewert.
• The Joseph Abboud brand, as well as its parent company JA Holding, Inc., will remain a subsidiary of The Men’s Wearhouse retail chain.

From the article:

Doug Ewert, President and Chief Executive Officer at Men's Wearhouse said, "We are delighted to have closed on this acquisition promptly and have reunited Joseph Abboud with his iconic brand at Men's Wearhouse.