Paris-based Cartier SA said it will acquire...

Paris-based Cartier SA said it will acquire a controlling interest in Swiss watchmakers Piaget SA and Baume & Mercier SA, a move that will give the French luxury products company a commanding share of the upscale watch market. Terms of the transaction were not disclosed, but Cartier Chairman Alain Perrin said the acquisition will give Cartier control of more than 40% of the $2.2-billion international luxury watch market.