Leading Danish fashion group IC Companys A/S on Wednesday announced it had acquired Swedish fashion house Sir Tiger Moderbolag AB for an undisclosed sum.

IC said it paid cash for Tiger, which was founded 100 years ago and has garment plants in Hungary, and expects its acquisition to boost full year earnings by up to 20 per cent.

It added Tiger, which will continue to operate independently, enjoyed a turnover of 233 million crowns ($27m) last year and posted an operating profit of 17 million crowns ($1.9m).