Anta Sports secures Jack Wolfskin in $290M acquisition move
The Chinese group Anta Sports has purchased the brand Jack Wolfskin. The well-known clothing and outdoor equipment manufacturer was sold for approximately 290 million CAD. This is less than what the previous owner paid, who acquired the company in 2018, reports the industry portal Retail Gazette.
Retailgazette.co.uk states that the transaction to purchase the Jack Wolfskin brand is expected to close within this quarter or possibly at the beginning of the third.
"This sale will allow us to increase our focus and optimize our resources on our core business," commented Chip Brewer, CEO and President of Topgolf Callaway Brands, the current owner of the Jack Wolfskin brand, primarily engaged in golf equipment production.
The Chinese group Anta Sports will pay approximately 290 million dollars CAD for the clothing and outdoor equipment manufacturer. Meanwhile, Topgolf Callaway Brands bought the Jack Wolfskin brand in 2018 for 445 million CAD.
Sales at the level of 345 million dollars CAD
Jack Wolfskin was founded in 1981 in Germany. The distinctive wolf paw is one of the most recognizable logos in the outdoor industry, highlighting the portal dlahandlu.pl.
"We believe ANTA Sports will be a good steward of the iconic Jack Wolfskin brand and we thank our Jack Wolfskin employees who have worked diligently to right-size this business and prepare it for this next chapter," stated Brewer, as quoted by Retail Gazette.
The clothing and outdoor equipment manufacturer is expected to generate sales at the level of 345 million dollars CAD in 2025, as forecasted by Topgolf Callaway Brands.
Anta Sports views the acquisition as a strategic element of its global growth strategy. The company, listed on the Hong Kong stock exchange, stated that it wants to integrate Jack Wolfskin with its existing portfolio closely, writes the portal eulerpool.com.
