The umbrella corporation that owns Blair has announced that it has been sold.

Orchard Brands Corp. announced Wednesday evening that it has agreed to the details of a sale of all its assets to Capmark Financial Group, Inc. with closing expected in late summer or early fall this year.

The $410 million deal adds Orchard Brands’ 13 brands with net sales of $1 billion in 2014 to Capmark’s portfolio. Among the existing Capmark holdings is Bluestem Brands, Inc. – Fingerhut, Gettington.com, and PayCheck Direct.

Orchard Brands officials do not expect much change to filter down to Blair.

“We’ve been told that the intent is to operate us as a separate operating company just as we always have,” General Counsel Daniel Ramsey said Thursday. “We’re part of the Capmark portfolio… (otherwise) business as usual.”

Capmark announced the acquisition Wednesday evening, followed by a similar announcement from Orchard Brands.

Ramsey said the company shared the news Thursday morning with Blair.

“The release was made last night,” Ramsey said. “You can’t pull everybody together in the evening. We did an announcement this morning to the Blair folks. First thing this morning we did an internal call, gave everyone the opportunity to ask questions.”

Questions like: What does the sale mean to the future of Blair LLC?

“There isn’t a plan for wholesale change,” Ramsey said. “That hasn’t been communicated to us.”

As far as the Irvine distribution center, the foreseeable future seems secure.

Ramsey said Bluestem has a distribution center “but it’s already over capacity. It’s unlikely they would take any action (to move operations out of Irvine) in the near future, if at all.”

“We view this as a good thing,” Ramsey said. “Bigger, stronger, good synergies. We feel really good about it.”

“The transaction will place Orchard Brands into a large organization with a diversified portfolio of brands, a strong combined operating platform, and a powerful financial base,” Orchard CEO Jim Fogarty said in a Wednesday press release. “The transaction is wonderfully synergistic, with Bluestem bringing strong expertise in consumer finance and hard goods to our brand teams, and our Orchard teams bringing strong expertise in designing, sourcing and selling women’s and men’s apparel to the Bluestem brand teams.”

“This transaction joins two strong and highly complementary organizations and management teams,” Capmark CEO Steve Nave said in the press release. “The Orchard portfolio of brands provides us with the opportunity to serve a new customer base and deepen our private-label merchandise design and sourcing expertise, which fits nicely into the theme of our company’s long-term strategic plan.”

“I am very proud of what the Orchard Brands team has accomplished and confident that combining with Capmark is a great next step for Orchard,” Fogarty said. “Together Bluestem and Orchard Brands will prove an incredibly strong direct to consumer platform.”

Blair officials declined to comment directly, saying all media inquiries must be directed to Orchard Brands.

A message left with Capmark was not returned.