NEW WAVE GROUP ACQUIRES PARIS GLOVE OF CANADA

NEW WAVE GROUP ACQUIRES PARIS GLOVE OF CANADA

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.

“We view Paris Glove as a complement to our other apparel lines and
global markets,” said Torsten Jansson, Managing Director and CEO of New
Wave Group. “The company provides an established base of entry to
Canada’s retail markets for other New Wave products with Paris Glove’s
established customer base.”

Paris has been entirely family-owned since its inception in 1945, when
founders Felix and Lily Monk brought their glove knowledge from the old
country to Canada. It is one of the oldest and most respected glove
companies in North America and has earned an enviable reputation in the
glove world as a premium brand synonymous with quality, style and
performance.

Auclair is the premium sport and outdoor division of Paris Glove. It is
one of the few glove companies delivering products to all markets –
sports, fashion, and industrial gloves for men and women, adults and
children. The company also sells a line of men and women’s scarves and
headwear, and distributes a limited selection of other products to its
customer base on behalf of other brands. The Paris Glove companies are:
Laurentide, Gloves International Inc., The Paris fashion division, and
Auclair Sports division.

The Collins Group Inc. of Montreal and Stockholm acted as financial
advisor to Paris Glove in its sale to New Wave.

Gothenburg 1 December, 2011

New Wave Group AB (publ)
Torsten Jansson
CEO

For more information, please contact:
Torsten Jansson                        CEO   Phone: +46 (0)31-712 89 01
Rolf Karp                              dCEO  Phone: +46 (0)31-712 89 05
Lars Jönsson                           CFO   Phone: +46 (0)31-712 89 12

 

New Wave Group in Brief
New Wave is focused on establishing, acquiring and developing brands
primarily in the promotion and leisure sectors. New Wave operates in two
business areas; the market for promo products through sales to
independent promo companies, and the retail market via mainly
sportswear, gifts and shoes retailers. By operating in these two market
segments the Group achieves better risk diversification and coordination
advantages.