The Swedish New Wave Group takes over the outerwear supplier Tenson AB.
The acquisition will provide Tenson with access to the group’s resources and synergies aimed at increasing operations and profitability, New Wave Group announced on Friday. Tenson is thus aiming for the next phase after the brand from Varberg, Sweden, has gone through a restructuring and repositioning process over the past four years. The entire strategy was adjusted – including brands, products, marketing and sales.
“Tenson fits perfectly with our sports and leisure business and our drive to expand in the outdoor segment,” said Göran Härstedt, senior vice president of the New Wave Group. “The synergies resulting from the Tenson acquisition will create opportunities for rapid growth in both revenue and profitability terms, not least as we add another distribution channel (promo) for Tenson and great opportunities for have geographic expansion within both distribution channels.”
Tenson will be integrated into the sports and leisure segment of the New Wave Group, which also owns US golf brand Ahead, Canadian glove specialist Auclair Gloves and US activewear brand Kate Lord.
In 2022, the Tenson Group’s sales were around 130 million Swedish kronor (about 11 million euros), with the outerwear brand making a loss of 8.5 million Swedish kroner (720,000 euros).