The Hong Kong-based export trading giant will also sell five properties in Hong Kong to its parent, Li & Fung (1937) Ltd, for HK$1.4 billion.
The US target, American Marketing Enterprises, holds more than 40 licensed brands including Spider- Man, Barbie and Disney Princess.
"The acquisition will double our brand portfolio to over 100 brands, making us one of the biggest companies in the high-margin entertainment business," said Li & Fung president Bruce Rockowitz.
The newly-acquired brands are expected to generate US$200 million of sales next year, he said. Completion of the deal is expected by the end of November. Li & Fung had made five acquisitions this year before the latest announcement, spending more than US$612 million on four companies and four brands, including Tommy Hilfiger Corp's Asia-based sourcing arm.
American Marketing Enterprises' sales in the year ended December 31, 2006, were US$140 million, with pre-tax profit of US$14.9 million. The company designs, sources and markets sleepwear brands to retailers including Wal-Mart and Sears.
Li & Fung will book an audited one-time gain of HK$449 million from the real estate sale, it said. The listed firm will lease back the properties for a maximum HK$72 million a year for the next three years.
Li & Fung shares closed at HK$35.10, down 6.3 percent. BLOOMBERG
