Wilton Brands, the Naperville-based seller of cake decorating equipment, has agreed to be bought by Dr. August Oetker KB, a private German company that sells baking products and baked goods.

Wilton will remain headquartered in Naperville and operate as a division of Dr. August Oetker, the companies said Monday. Financial terms weren’t released. The sale is expected to be completed by the end of the year.

Wilton employs over 600 people worldwide, with about 400 people working in Naperville and Romeoville. The company doesn’t disclose revenue information.

Wilton was bought in 2009 by investment funds managed by TowerBrook Capital Partners L.P. Wilton CEO Sue Buchta focused the company on baking and food, divesting noncore businesses along the way.

“Wilton is passionate about bringing the love of baking and decorating to everyone, everywhere, every day through quality products that make baking and decorating fun and easy,” Buchta said in a news release. “I could not imagine a better owner for Wilton Brands. . . . This is a proud and exciting milestone in Wilton’s 89-year history as a trusted name in baking.”

The new owner says it owns baking and dessert brands in more than 35 countries.