New Wave Group to acquire Cutter & Buck
Designer of consumer products for the corporate promotional and consumer retail markets in Europe New Wave Group AB has signed a definitive agreement to acquire US designer of golf and sportswear Cutter & Buck Inc. The deal is said to provide Cutter & Buck with a significantly expanded product offering for the
Under the terms of the agreement, Cutter & Buck Inc. shareholders will receive $14.38 per share of Cutter & Buck Inc. common stock for an aggregate consideration of $156.5 million.
“We are excited about the opportunities presented by this combination,” said Ernie Johnson, Cutter & Buck Inc.’s CEO. “We will have access to proven products that should provide us significant growth in our current markets. In addition, this combination allows Cutter & Buck Inc. access to New Wave
The transaction is subject to customary closing conditions, including approval by the shareholders of Cutter & Buck Inc. and the receipt of applicable regulatory approvals.
