Shareholders of Intermark and Triton Group have...

Shareholders of Intermark and Triton Group have approved the previously announced merger of the two companies through a stock swap. Intermark, which already owned 52% of Triton Group, will exchange 1.4 shares of its stock for each Triton Group share that it does not already own. Both firms are based in La Jolla.

The merger, which became effective Friday, created a company with consolidated revenue of $1 billion and assets of $912 million. Both Intermark and Triton Group are holding companies that, combined, own all or part of 14 manufacturing and service companies. More than 90% of the votes cast by each company’s shareholders approved the merger at special meetings.

Intermark’s holdings include 52% of Pier One stock, 50% of Sunbelt Nursery Group, 52% of Mission West Properties, 67% of Ridgewood Properties and 100% of Dynamark.

With the merger, Intermark takes full ownership of Triton Group’s 26% interest in Fuqua Industries, 100% stake in National Airomotive Corp., 66% of Liquor Barn, 100% of Western Metal Lath and 66% of Western Sizzlin restaurant chain.

Intermark Vice President Mitchell Woodbury said the merged company plans to strengthen its balance sheet and to sell certain unspecified assets.