Chico's To Buy Rival Retailer For $205M

Law360, New York (August 17, 2011, 1:47 PM EDT) -- Chico's FAS Inc. will buy privately held women's retailer Boston Proper Inc. for $205 million in an all-cash deal designed to strengthen its online sales, the company said Wednesday.

Chico's, which also announced a 42 percent increase in quarterly profit, expects Boston Proper to immediately boost earnings, even before the companies meld their similar businesses and eliminate redundancies, the retailer said. The companies can merge marketing, circulation and sourcing, among other efforts, Chico's said.

"Boston Proper has grown and thrived by offering women daring, modern fashion...
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