New Wave Group announces acquisition of BTC Activewear

Swedish growth company New Wave Group has announced the acquisition of UK apparel firm BTC Activewear Limited, for 33 million pounds in cash.

According to the group, the acquisition will have a positive impact on its results for the current year, however it will impact its gross and operating margin.

Despite this, New Wave said the introduction of its own brands into the activewear company’s portfolio will allow for a “considerable increase” in the gross and operating margin of BTC in the coming years.

The group also added that the acquisition would enable it to build a strong platform for the distribution of its brands in the UK, making it one of the main players in the region.

BTC Activewear’s CEO and co-founder Stephen Pope will continue leading the company through the acquisition.

Commenting on the sale, Pope said he was delighted to garner a strong financial owner with a reputation for long-term commitment.

He added: “BTC Activewear will be able to grow and take further steps together with New Wave Group, where the mix between our understanding of and position in the UK market and New Wave Group’s experience and brands will be an unmatched combination.”