Puma AG will take a majority stake in Dutch company Dobotex as of January 1, 2009. In a brief statement, the company, based in Herzogenaurach, Germany, did not indicate the size of the stake or the terms of the deal.
Puma already has a long-term licensing contract with Dobotex for socks and bodywear. In July, Puma extended its long-term licensing contract for socks by Dobotex. The new licensing deal has a global reach but excludes the United States. In addition, Puma and Dobotex already signed a new licensing contract for Puma bodywear this year, and Pumas license contract with former licensee Schiesser Lifestyle will terminate at the end of 2008.
Dobotex also makes legwear for Tommy Hilfiger in Europe. Puma said the deal was subject to regulatory clearance. French luxury goods company PPR acquired Puma last year, acquiring more than 62% of the company's shares, but Puma continues to report separately and keep its German stock market listing
