New Wave Group AB (NEWAb.ST), headquartered in Sweden but with significant interests in the United States, has acquired Paris Glove of Canada Ltd.
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New Wave Group AB (NEWAb.ST) is acquiring all of the shares of Paris Glove of Canada Inc. for a sum of CAD 16.5 million. During 2010, Paris Glove reported sales of CAD 28 million with an operating profit (EBIT) of CAD 2.8 million. The addition of Paris Glove (www.parisglove.com) enhances the New Wave Group corporate portfolio, which also consists of Ahead, Cutter & Buck, Clique, Craft, Orrefors and Kosta Boda, among other brands.