Live Nation has acquired the remaining interest in high-end licensing and merchandise firm Trunk LTD from its founder and CEO Brad Beckerman, who has exited the company to pursue other opportunities. Financial terms were not disclosed.

Live Nation, the world's largest concert promoter and venue operator, purchased a majority stake in Trunk -- which is renowned for its authentic music-inspired lifestyle merchandise -- last July.

At that time, Live Nation CEO Michael Rapino told, "Artist merchandise is a large segment of the live business [that] we have never been in, and we believe with the amount of tours we produce globally, the venues we own and festivals [we produce], that this segment represents a new area of growth and services we can provide the artist."

Marc Choper has been promoted to president and CEO of Trunk. He most recently served as executive VP and COO at Trunk.

Henry Duarte has been named director of product design at Trunk and will be responsible for leading the design direction for all product lines. Duarte has been designing clothes for rock and roll and film stars for more than 21 years, with a clientele that includes Bob Dylan, Neil Young, Steven Tyler, Lenny Kravitz, Guns N' Roses, Sheryl Crow, Jennifer Lopez, Gwyneth Paltrow and many others.