“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 Group AB's broad distribution network in Europe as well as New Wave Group AB's exceptional product related resources throughout the world.”
The transaction is subject to a number of customary closing conditions, including approval by the shareholders of Cutter & Buck Inc and the receipt of applicable regulatory approvals.
The results of Cutter & Buck will be consolidated with New Wave Group AB's financial statement from and after the closing, expected for the end of May 2007. The acquisition is expected to generate a positive effect on the financial results of New Wave Group for its current fiscal year.
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