— Furniture Today,
REDMOND, Wash. — Apparel company Eddie Bauer, which has a licensed furniture line with

Lane, has agreed to be sold to affiliates of private equity investment groups Sun Capital Partners and Golden Gate Capital in a deal valued at $614 million.

Pending approval by Eddie Bauer shareholders, the buyers would pay $286 million in cash, or $9.25 per share, and would assume $328 million in company debt.

Eddie Bauer said its board of directors has endorsed the deal. The transaction is expected to close in the first quarter of next year.

Sun Capital Partners affiliates have ownership stakes in such furniture companies as resource Lexington Home Brands and retailers Mattress Firm and Wickes. Golden Gate Capital was involved this year in the merger of retail technology provider GERS and Ecometry Corp. to form the new company Escalate Retail.