Joy Sportswear, the German apparel brand that markets the Joy and Tao brands, has been wholly acquired by Melchers, a German-based trading company. The Federal Cartel Authority still has to approve the takeover. Joy Sportswear currently employs 50 people, who will be kept on staff by the new owner. Though it is specialized in Asia, Melchers works globally as a trading company in various business areas. With about 1,700 employees, it recorded total sales of more than €600 million last year. The holding company has more than 50 subsidiaries in 23 countries. Joy Sportswear realizes more than 90 percent of its sales in Germany.

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