US-based retailer Men’s Wearhouse has bought stakes in two UK providers of corporate uniforms and workwear, Dimensions Clothing and Alexandra, it has been reported.
Through the deal, worth around £61m, Men’s Wearhouse has acquired Dimensions Clothing and certain assets of Alexandra.
The companies will be organised into a UK-based holding company, of which Men’s Wearhouse will control 86% and certain existing shareholders of Dimensions will control 14%. Sales at Dimensions are forecast to be in the region of £130m in 2011.
Men’s Wearhouse’s corporate uniform business Twin Hill enjoyed sales of $13.5m (£8.5m) in 2009.
George Zimmer, Men’s Wearhouse founder, chairman and chief executive officer, said: “These transactions give Men’s Wearhouse a strong market position in UK corporate apparel. Operationally, Dimensions’ management will join our organization. Over the past five years, the Dimensions organization has grown and developed a world-class customer base, including several of the United Kingdom’s largest food and non-food retailers.
He added: “The Alexandra brand has a 50-year legacy in workwear solutions to businesses of all sizes, and is a well-known brand. Additionally, our new U.K. organization has strong sourcing operations in Asia and Eastern Europe and will service clients from multiple distribution facilities.”