Callaway completes acquisition of Jack Wolfskin
Callaway has completed its acquisition of Jack Wolfskin. The American golf company invested a total of €418m ($476m) for the German outdoor specialist, becoming the sole owner of Jack Wolfskin.
Following the takeover of TravisMathew and Ogio in 2017, Jack Wolfskin is Callaway’s third and largest acquisition in the active lifestyle segment. Callaway is considered the leading golf brand in the US.
The listed company is headquartered in Carlsbad, California, however Jack Wolfskin will continue to operate from its head office in Idstein, near Frankfurt am Main in Germany.
"We are very excited to have completed this acquisition and have the Jack Wolfskin brand as part of the Callaway portfolio," commented Chip Brewer, president and chief executive officer of Callaway, about the acquisition.
"We believe Jack Wolfskin fits extremely well with our current brands and furthers our stated plan of strategic investments in complementary areas. Jack Wolfskin provides an innovative product offering with long-term synergies to the existing soft goods portfolio."
“We are thrilled to be joining Callaway's growing portfolio of premium, active lifestyle brands," added Jack Wolfskin chief executive officer Melody Harris-Jensbach.
Jack Wolfskin’s largest previous shareholders were affiliates of Bain Capital Credit Group, H.I.G. Bayside Capital, CQS, Avenue Capital Group and Blue Mountain Capital Management, which collectively held more than 67% of the company’s shares. In 2018, Jack Wolfskin reported revenues of €334 million (around $382m).
Copyright © 2022 FashionNetwork.com All rights reserved.