J. Baker Acquires Big and Tall, Forms Subsidiary

Share this content:
J. Baker Inc., Canton, MA has completed its purchase of the primary assets of Repp Ltd. Big & Tall and Repp Ltd. by Mail from Edison Brothers Stores Inc., St. Louis.


The purchase price of $31.7 million gives J. Baker 175 Repp Ltd. Big & Tall stores and the Repp Ltd. by Mail catalog business. Both divisions will be organized under JBI Apparel Inc., the company's newly formed clothing and accessories subsidiary.


Going forward, JBI Apparel said it will operate the Repp Ltd. by Mail catalog and 128 retail stores in the United States after closing 31 locations and selling Repp's Canadian unit to Grafton-Fraser, Ontario, Canada.


The transaction for the agreement is being financed primarily through new credit facilities provided to JBI Apparel Inc. by BankBoston Retail Finance Inc., Back Bay Capital LLC, and Donaldson, Lufkin & Jenrette Securities Corp. There was also sales revenue accrued from the sale of Repp Ltd.'s Canadian operations and the liquidation of inventory from closing stores.


In connection with the $10 million financing arranged by Donaldson, Lufkin & Jenrette, J. Baker issued 5-year warrants enabling holders to purchase a total of 1.2 million shares of the company's common stock at $5 per share.


The remaining 128 Repp Ltd. Retail stores and the Repp Ltd. by Mail catalog, which will continue to operate under the Repp Ltd. Big & Tall tradename, generated approximately $100 million in sales for the fiscal year ended Jan. 30.


Alan I. Weinstein, president/CEO said the acquisition will strengthen J. Baker's company position in existing markets and afford it two new and important expansion vehicles. .


J. Baker, Inc. is a leading specialty retailer of apparel and footwear. Along with the newly acquired Repp Ltd. Big & Tall business, the company operates the chain of 454 Casual Male Big & Tall stores, 63 Work 'n Gear and 767 self-service licensed footwear departments in discount department stores nationwide.
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above