Women's apparel maker Ascena Retail to buy Charming Shoppes for $857.2 mn
04 May 2012
Ascena Retail Group Inc has agreed to buy Charming Shoppes Inc, the owner of Lane Bryant, for $890 million in cash as the women's apparel maker looks to expand in the plus-size apparel market in the US.
Based in Bensalem, Pennsylvania, Charming Shoppes is a leading US apparel retailer specialising in women's plus-size apparel.
It operates1,832 retail stores in 48 states under brands that include Lane Bryant, Cacique, Lane Bryant Outlet, Fashion Bug, Fashion Bug Plus and Catherines Plus Sizes.
Its brands include Lane Bryant, Catherines Plus Sizes and Fashion Bug. It also operates store-related e-commerce websites.
The 72-year-old company also operates the Figi's family of brands, including the holiday food and gifts catalog Figi's Gifts in Good Taste, the home and gifts catalog Figi's Gallery and its wholesale unit Figi's Business Services.
Suffern, New York-based Ascena is a leading specialty retailer of apparel for women and teen girls, operating through its wholly-owned subsidiaries, the dressbarn, Maurices and Justice brands.
The company operates through its subsidiaries over 2,500 stores throughout the US, Puerto Rico and Canada.
