Consumer products group Pacific Brands has agreed to acquire New Zealand-based thermal wear and bedwares business Arthur Ellis for NZD13.2 million.

The acquisition, which will be funded through existing debt facilities, will include all staff, assets and intellectual property of the group. Australia-based Pacific Brands expects to complete the purchase on 30 November.

A spokesman for the group said: "The acquisition of the Everwarm/Survival Merino business further strengthens our branded position in the thermalwear market, and leverages the manufacturing, sourcing and distribution scale of our New Zealand clothing business."

Arthur Ellis's brands include Fairydown, Everwarm and Survival Merino. The Business is based in Christchurch, New Zealand.

Pacific Brands markets names such as Berlei, Clarks, Dunlop, Everlast, and Hush Puppies.