Everlast head agrees to vote in favor of merger with Hidary Group

By Lisa Kerner

Charlotte, N.C., June 26 - Everlast Worldwide Inc. chairman and chief executive officer Seth Horowitz entered into a voting agreement under which he will vote in favor of the company's proposed acquisition by a group of investors led by the Hidary Group.

Horowitz beneficially owns 808,788 shares, or 19.2%, of the company's outstanding stock, according to a schedule 13D filing with the Securities and Exchange Commission.

On June 1, Everlast announced it agreed to be acquired by Hidary for $26.50 per share in an all-cash transaction valued at $146 million.

Everlast's board of directors approved the agreement, which is subject to shareholder approval. The transaction is slated to close in the third quarter of 2007.

Other investors in addition to the New York-based Hidary Group include Gracie Capital, Ore Hill Partners and Seneca Capital.

Everlast, based in New York, designs, manufactures and markets boxing and fitness-related sporting goods equipment.

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