Anta Sports acquires Jack Wolfskin in £220m strategic deal
The Chinese group Anta Sports has purchased the brand Jack Wolfskin. The well-known manufacturer of clothing and outdoor equipment was sold for approximately £220 million ($290m). This is less than what the previous owner paid, who acquired the company in 2018, reports the industry portal Retail Gazette.
The transaction to purchase the Jack Wolfskin brand is expected to close within this quarter or possibly at the beginning of the third, states retailgazette.co.uk.
"This sale will allow us to increase our focus and optimise 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 (£220 million) for the clothing and outdoor equipment manufacturer. Meanwhile, the American corporation Topgolf Callaway Brands bought the Jack Wolfskin brand in 2018 for €418 million (£360 million).
Jack Wolfskin was founded in 1981 in Germany. The distinctive wolf paw is one of the most recognisable logos in the outdoor industry.
"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 €325 million (£280 million) 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 closely integrate Jack Wolfskin with its existing portfolio, writes the portal eulerpool.com.
