Suffern, N.Y.-based Dress Barn also will pay off the bank debt of Tween Brands, the New Albany, Ohio, company behind the Justice stores aimed at girls 7-14.
Dress Barn CEO David Jaffe said Thursday the Justice brand will diversify and complement his company's existing business.
Officials say Dress Barn will allow Tween Brands to operate as a separate subsidiary with its current management team remaining in place.
Brian Sozzi, retail analyst at Wall Street Strategies, told the Wall Street Journal that the acquisition is a "risky move in this environment." Tween Brands has closed some of its Justice stores and recently converted its Limited Too stores to Justice stores.
USA Today 
