Shareholders of apparel manufacturer and leading children's clothing producer Garan Inc on Wednesday overwhelmingly approved its acquisition by Berkshire Hathaway Inc for $273 million.

In a statement, Berkshire Hathaway said more than 99 per cent of Garan's shareholders voted in favour of the merger with the investment holding company run by billionaire Warren Buffet.

The deal means Garan, famous for its Garanimals brand, will become a unit of Berkshire but remain based in the New York. "Garan is a wonderful business with an outstanding management team," said Buffett.