The German outdoor outfitter Jack Wolfskin gets a new owner. The US group Topgolf Callaway Brands Corp. announced on Thursday that it wanted to sell the brand to the Chinese sporting goods group Anta Sports Products Limited.
A corresponding agreement has already been signed. It provides for a fundamental purchase price of $ 290 million (261 million euros), which could still be subject to current adjustments. According to the previous owner, the transaction is to be carried out towards the end of the second quarter or at the beginning of the third quarter. However, it still requires the usual competition law permits. To
Jack Wolfskin’s equipment for Draussen GmbH & Co. KGAA, which is based in Idstein, has been part of Callaway since 2019. At the time, the group had paid $ 476 million to a group of financial investors to take over the brand.
Topgolf Callaway wants to concentrate more on the core business and strengthen finance
Chip Brewer, the President and CEO of Topgolf Callaway Brands, explained why the group of companies now wants to separate from Jack Wolfskin again. “This sale will enable us to focus more on our core business and to optimize our resources,” he said in a statement. “It is also important that the income further improve our balance sheet and liquidity and strengthen our financial flexibility in the run -up to the planned separation of top golf from our core business.”
The Group did not put the possible financial effects of sales on the annual forecasts. However, it is expected that Jack Wolfskin should achieve sales of around 325 million euros in the current financial year and a result of interest, taxes and depreciation (EBITDA) in the range of twelve million euros, according to a special effect.