STOCKHOLM, Sweden, July 1, 2005 (PRIMEZONE) -- Today, New Wave Group has entered into a share transfer agreement with Van der Spruit Beheer B.V. regarding an acquisition of 51% of the shares in Intraco Holding B.V. (based in the Netherlands) and its subsidiaries. Furthermore, Van der Spruit Beheer B.V. has given New Wave Group call options to acquire the remaining 49% of the shares on four different occasions, namely during 2007 (7.5%), 2008 (10%), 2009 (12.5%) and 2010 (19%).
The purchase sum at both the initial acquisition and in connection with exercising of the call options regarding the remaining shares is based on the result of the acquired group of companies. The purchase sum at the initial acquisition of 51 % of the shares is estimated to 4 M Euro.
The focus of the business of the Intraco group of companies is to, as a wholesaler, sell technically related promotional articles, such as phone-, computer- and technically related desktop accessories. Examples of successful product groups are USB-memories and SIM-card readers. Recently, the Intraco group of companies widened is products assortment, which now also include electronic outdoor gadgets such as digital compasses and heart rate monitor watches. The Intraco group of companies is very innovative in its focus on products and brings out on the promotional market the most modern technical novelties within especially the above mentioned product groups.
The Intraco group of companies has a buying office in Hong Kong, which sources for the group companies and also sells to external customers.
The Intraco group of companies' turnover during 2004 was approx. 8 M Euro with a good profitability and the number of employees is approx. 30.
The acquisition is consolidated result wise into New Wave Group from 1 July 2005, inclusive, and is expected to generate no effect or a minor positive effect on the result for the current year. Thereafter, the acquisition is expected to have a positive impact on the result. Through the acquisition, New Wave Group will further widen its product assortment within the so called promotional hard gifts area, in which New Wave Group already, in other products groups, has a strong position through the products of inter alia Sagaform, Toppoint, Orrefors, KostaBoda and Dahlin & Johansson Frantextil. The acquisition is of great strategic importance for New Wave Group, as it will lead to a wider product assortment which will make New Wave Group to an even more complete supplier within the promotional market. Furthermore, the acquisition will further strengthen New Wave Group's position on promotional market within Europe.
More information about Intraco can be found on their website; www.intraco.nl
Ytterby on 1 July 2005
New Wave Group AB (publ) Goran Harstedt dCEO
New Wave Group in brief
New Wave is a promotional and retailing company that concentrates on establishing, acquiring and developing trademarks, mainly within the promo wear, leisurewear and gift sector. New Wave operates within two business areas, in the Corporate Promotional area through sales to independent promotion companies, as well as in the Retailing business area via retailers mainly within sportswear and shoes. By operating within both areas, the Group's risk spreading and the coordination advantages increase. The Group's most well-known trademarks are Clique, Craft, Seger, Orrefors, KostaBoda, Grizzly, James Harvest Sportswear, Jobman, New Wave, Pax, Projob, Sagaform, Umbro (license), Nordica (license), Rollerblade (license) and Printer Active Wear.
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