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Chorion is selling its Mr Men and Little Miss brands to Sanrio, as part of the Japanese company's plans to set up a UK subsidiary to expand its children's characters business.

Chorion has acquired Copyrights Group, the children's character licensing firm, in a deal thought to be worth between £5m and £10m.

Chorion has acquired Silver Lining Productions, the US TV production and merchandising company, for undisclosed terms.

Chorion has acquired the Mr Men range of children's characters for £28m, and has also announced plans to raise £16m in a share placing.

Chorion is planning to open new Tiger Tiger nightclubs in Leeds, Croydon and Portsmouth this year.

Chorion is planning to open up to 15 Tiger Tiger bars over the next two years.

Chorion has announced plans to open seven new venues across the country, creating 840 jobs, with most of them based on the Tiger Tiger all-day cafe, bar and nightclub complex in London's West End.