New Wave Group AB has completed the previously announced acquisition of US sportswear designer Cutter & Buck Inc.

Following shareholder approval, Newport Acquisition Corporation, a wholly-owned subsidiary of New Wave, was merged with and into Cutter & Buck, and Cutter & Buck became a wholly-owned subsidiary of New Wave.

Commenting on the deal, Ernest Johnson, Cutter & Buck's CEO, said, "By completing the merger, we have put Cutter & Buck into position to move forward with a strong partner and the potential for a substantial market presence in Europe."

Cutter & Buck’s brands include Cutter & Buck, Annika and CBUK.