US designer, manufacturer and marketer of boxing and fitness related sporting goods equipment and a worldwide licensor of the Everlast brand for apparel, footwear, sporting goods equipment Everlast Worldwide Inc. has signed a definitive agreement to be acquired by investor group The Hidary Group, for $26.50 per share in cash, a 14.5% premium on its closing price on May 31, and a 30% premium to the average closing price over the last month. The total value of the all-cash transaction is over $146 million.

The agreement, which was approved by the board of directors of Everlast on June 1, is subject to stockholder approval and other customary conditions and is expected to be completed during the third quarter of 2007.