Cutter & Buck Inc. to be Acquired for $156.5 Million
Cutter & Buck Inc., a designer and marketer of upscale golf and sportswear in the United States , signs a definitive agreement to be acquired by New Wave Group AB, a leader in the design and marketing of consumer products for the corporate promotional and consumer retail markets in Europe . The combination of the two companies provides Cutter & Buck Inc. a significantly expanded product offering for the United States market and gives New Wave Group AB an upscale golf and sportswear brand to distribute in Europe . Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, Cutter & Buck Inc. shareholders will receive $14.38 per share of Cutter & Buck Inc. common stock for an aggregate consideration of $156.5 million.