Blair to Merge with Appleseed's Topco

Blair Corp.'s shareholders have approved a merger with Appleseed's Topco, a portfolio company managed by Golden Gate Capital. Under the terms of the agreement, Appleseed's Topco will pay $42.50 for every share of Blair it does not already own.

The transaction is expected to close within 10 business days, at which time Blair's stock will cease trading. Upon the close, Blair will function as a wholly owned subsidiary of Appleseed's Topco. The combined businesses will have annual revenue of more than $1.1 billion.