New Wave Group to acquire Ahead
New Wave Group AB, the parent company of Cutter & Buck, has reached an agreement to acquire Ahead, the headwear and apparel company.
The deal is expected to close in the third quarter of 2011; terms of the agreement were not disclosed.
Established in 1995, Ahead built its reputation and business in the golf market on its innovative logo embroidery, especially for headwear. Based in New Bedford, Mass., the company operates four business units: men’s apparel, Ahead headgear, “Heavy Metal” line of golf accessories and “Kate Lord Collection” of women’s hats, apparel and accessories.
“Ahead’s strong market position and brand visibility in the headwear category worldwide will be an excellent complement to our business components,” said Torsten Jansson, managing director and CEO of New Wave Group based in Sweden. In addition to Cutter & Buck, New Wave Group markets other sportswear brands such as Craft, Seger and Speedo. New Wave Group’s sales divisions operate in 20 countries, spanning Europe, North America and Asia.
In a statement, Ken Shwartz, CEO and founder of Ahead, said: “We’re looking forward to being part of the New Wave family and having access to their extensive distribution network and exceptional product related resources worldwide.”