By  on June 2, 2009

Timex Group has acquired the Marc Ecko watch trademarks on a global basis. The Middlebury, Conn.-based watchmaker has been the Marc Ecko watch licensee since 2002. Terms of the deal between the two privately held companies were not disclosed.

The agreement comes as New York-based Marc Ecko Enterprises seeks to raise cash by selling off noncore assets. Ecko hired investment bank Peter J. Solomon in November to assess and facilitate strategic options in order to pay down large debt loads owed to a group of lenders headed by CIT, as well as trade receivables owed to its sourcing agent Li & Fung.

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