Hong Kong-based sourcing giant Li & Fung Limited said Wednesday it has made a series of acquisitions including Loyaltex Apparel and British beauty company Collection 2000.
Li & Fung, which has been embarking on a shopping spree over the past couple years, also said it has bought Thailand-based furniture company Exim Designs and TVMania, a European supplier of character-braded apparel with a license portfolio including Hello Kitty, Mickey Mouse, Barbie and Sponge Bob.
Li & Fung reiterated that it has acquired Hampshire Designers, the women's division of Hampshire Group Limited in the United States. That deal was originally announced last month.
Li & Fung said the turnover and pre-tax profit of the five acquired companies were about $660 million and $80 million respectively for the last year.
"We are pleased to have concluded a series of transactions that will further expand our customer base and strengthen our product offerings," said Bruce Rockowitz, president and chief executive of Li & Fung.
Loyaltex Apparel is a sourcing and development company specialized in knitwear and denim. The deal will give Li & Fung a new portfolio of customers including Aeropostale and Alfred Dunner.
Rockowitz said the acquisition of TVMania will create synergies between its U.S. and European businesses.
"Together with Kids Headquarters [a U.S. company bought in 2009] this acquisition will allow us to become the largest global player in licensed apparel trading, and hence a stronger and even more valuable partner to licensors and retailers," he said in a release.
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