Puma, the German maker of trendy sports wear and shoes, said Monday it was taking over Brandon, a small Swedish company that specializes in supplying luxury gifts.
Puma is to obtain 100 per cent of Brandon Company AB, which employs 115 people at offices in eight countries including Germany, Hong Kong, Britain and the United States. Its main office is in Gothenburg, Sweden.
Puma said the acquisition, back-dated to January 1, would require approval by anti-trust authorities. It declined to say what it paid.
Brandon would complement the German company with its experience in merchandising, Puma said. Both had already teamed up to distribute clothing to big companies which want to impress their guests and own staff with such gifts, reported dpa.