Bensalem, Pa. – Locally based Charming Shoppes plans to purchase Lane Bryant, a subsidiary of Columbus, Ohio-based The Limited, for $335 million in cash and stock. The company plans to operate Lane Bryant, with 653 stores nationwide, as a stand-alone operation.

This acquisition will position Charming Shoppes as a leader in the plus-size specialty apparel market. Following the transaction, Charming Shoppes will have more than $2.5 billion in annual sales, with 2,427 stores. Plus-sizes will account for 72% of its total revenue.