August 9, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Men's Wearhouse (NYSE: MW) said that it has acquired Dimensions Clothing Ltd. and certain assets of Alexandra, plc, two providers of corporate clothing uniforms and workwear in the United Kingdom, for a total cash consideration of around 61 million pounds Sterling.

The combined businesses are organized into a UK-based holding company, of which Men's Wearhouse will control 86% and certain existing shareholders of Dimensions will control 14%.

Men’s Wearhouse said it expects that the acquisition will be accretive to earnings excluding transaction and integration expenses in FY2010. It projects annualized FY2011 revenue for the combined businesses at around 130 million pounds, and said that earnings are also expected to be accretive.

No other terms were disclosed.

George Zimmer, Men's Wearhouse founder, chairman and CEO, said that the transactions give Men's Wearhouse a “strong market position” in UK corporate apparel.

"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,” Zimmer said.

The Alexandra brand has a 50-year history in workwear solutions to businesses of various sizes. Zimmer added that his firm’s new UK organization has strong sourcing operations in Asia and Eastern Europe and will service clients from multiple distribution facilities.

Men's Wearhouse has scheduled an analyst meeting in New York City to review this transaction, for August 17.

Texas-based Men's Wearhouse is a specialty retailers of men's apparel with 1,239 stores. The Men's Wearhouse, Moores and K&G stores carry a range of brand name and private label suits, sport coats, furnishings and accessories and Men's Wearhouse and Tux stores carry a limited selection.

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