New Wave Group AB (publ) acquire X-Tend B.V. in the Netherlands
New Wave Group AB (publ) acquire X-Tend B.V. in the Netherlands New Wave Group has today acquired 51 % of the shares in X-Tend B.V. in the Netherlands. X-Tend B.V. has, since 10 years, distributed the brand CRAFT in Benelux. The purchase price is corresponding to the shares share of the company's equity and the rest of the shares in the company are owned by management in the company. New Wave Group has an option to buy the remaining 49 % of the shares in the company during 2007 for a purchase sum based on the company's result during the years 2004 - 2006. New Wave Group will introduce the promo wear concept MacOne/Jingham through X-Tend B.V., starting in August/September this year. Hereafter, the company's business will consist of: Retail The company will continue the distribution of clothes under the brand CRAFT to the sport shops in Benelux. Craft is continuing to develop in a very positive way on all almost all markets. Through the acquisition, the distribution will be secured on one of the most important markets for Craft, and furthermore the possibilities for further growth on the market will be improved with New Wave Group as the majority owner. Promo Through the company, the promo wear concept MacOne/Jingham will be introduced in Benelux. This will strengthen the offering of our promotional articles in Benelux. Through New Wave Group's existing subsidiary in the Netherlands, New Wave Sportswear B.V., the existing distribution of the promo wear concept James Harvest Sportswear/Printer Active Wear through the distributor Swedish Match Advertising Products and also the acquisition, which is in progress, of Lensen Toppoint in the Netherlands, which is estimated to be completed later this week, will New Wave Group become one of the major suppliers in Benelux within the promotional business area. New Wave Group's goal is to, within short, become major and largest supplier of promo wear and promotional articles in Benelux. Through the companies mentioned above and the introduction of MacOne/Jingham and also additional introductions which are intended to be made through Lensen Toppoint, Benelux will become the second largest market for New Wave Group (after Sweden) already during 2002. X-Tend B.V. estimates to have a turn-over of about 2.800 T in 2002 with a small profit. The acquisition is not expected to have any effect on New Wave Group's result during 2002. Borås, 30 July 2002 New Wave Group AB (publ) Torsten Jansson, CEO For more information, please contact: Torsten Jansson CEO, New Wave Group Tel: +46 (0)708 99 80 50, +46 (0)33 22 58 55 Göran Härstedt dCEO, New Wave Group Tel: +46 (0)708 99 80 17, +46 (0)33 22 58 63 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/07/30/20020730BIT00440/wkr0001.doc http://www.waymaker.net/bitonline/2002/07/30/20020730BIT00440/wkr0002.pdf