New Wave Group, the Swedish company whose assets include the Craft, Kosta Boda and Seger brands, has completed its acquisition of Cutter & Buck for $14.38 a share in cash, valuing the company at $156.5 million. Following shareholder approval, Cutter & Buck now becomes a wholly-owned subsidiary of New Wave. For the moment, Cutter & Buck’s business at New Wave is being overseen by Goran Härstedt, the Swedish group’s chief executive. At the same time Cutter & Buck will continue to be run separately as an independent business by its chief executive in the USA, Ernest Johnson (more on the acquisition in SGI Europe #18-14+15 of Apr. 26).