Luxury holding company Labelux Group has announced it will be acquiring Bally International AG (bally.com).

Labelux Group is a newly established Vienna and Milan-based luxury holding company owned by the family-controlled Joh. A. Benckiser SE in Vienna. It has reached an agreement to purchase the brand from TPG Capital (tpg.com),the Fort Worth, Texas-based private investment firm.

Photo: Bally men's look for AW08/09