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Tandy strikes license agreement with Samsonite

DALLAS (AP) -- Tandy Brands will team up with Samsonite to sell its gift products in the U.S. and Canada.

The financial terms of the deal with the world's largest luggage company were not disclosed Monday.

Tandy, based in Dallas, said the multi-year license agreement with Samsonite IP Holdings S. á r represent a significant growth opportunity. The company expects to see the deal will help its 2013 holiday selling season.

Under the terms of the arrangement, Tandy will manufacture, market and distribute gift products sold under the Samsonite and American Tourister brands in the U.S. and Canada. This includes cooler bags, storage containers, tools, handheld lighting and other accessories.

Tandy Brands Accessories Inc. makes a number of men's, women's and children's accessories, including belts, gifts and bags sold under a variety of national and private brand names. Shares increased 2 cents to $1.65 by early afternoon. Its shares are near the top of its 52-week trading range of 90 cents to $2.14.