Tenson AB has recently revamped its brand, product offerings, marketing strategies, and sales channels to adapt to evolving consumer demands. By integrating Tenson into its operations, New Wave Group aims to provide the necessary resources and synergies for Tenson to embark on the next phase of its transformative journey, scaling up operations and enhancing profitability.
Göran Härstedt, New Wave Group’s senior vice president said: “Tenson fits perfectly into our Sports & Leisure business and our endeavour to expand within the outdoor segment. The synergies resulting from the acquisition of Tenson will create opportunities for rapid growth both in terms of sales and profitability, not least as we add another sales channel (promo) for Tenson and great opportunities for geographic expansion within both sales channels.”
In 2022, the Tenson Group achieved sales of approximately SEK130m ($12m), accompanied by a loss after tax of around SEK 8.5 million. However, with the purchase price of SEK 1, based on an equity valuation of at least SEK 6.53 million at the closing on July 1, 2023, and with the brand valued at approximately SEK 31 million, the acquisition is expected to positively impact New Wave Group’s financial performance as early as 2024, albeit with limited effect during the second half of 2023.
Jens Petersson, New Wave Group’s business area manager for sport & leisure, also sees a bright future and added:
“With this acquisition, we are seriously entering the outdoor segment where we have been looking for a suitable acquisition for a long time. In Tenson, we get an authentic outdoor brand with a rich history and a modernised platform in terms of brand position, product range and established sales channels. Tenson complements our existing brands in a natural way. In addition, we hope Tenson will have a speedy journey with us through our established distribution and contact network both in Sweden and globally.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSee Also:
As part of New Wave Group’s Sports & Leisure operating segment, Tenson AB will primarily focus on the retail sales channel.
