The acquisition is in line with ANTA Sports’ strategic approach focused on specialisation within a multi-brand framework and its international expansion goals.
This move is expected to enhance its presence in the outdoor sports market. By incorporating Jack Wolfskin into its portfolio, ANTA Sports hopes to broaden its range of outdoor products, catering to both high-end and mainstream consumers across a wider spectrum of outdoor activities.
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The Jack Wolfskin business will become an indirect wholly-owned subsidiary of ANTA Sports upon completion of the acquisition. The brand develops outdoor products that are designed for consumers engaged in active outdoor pursuits as well as those who enjoy urban outdoor activities. Its product range covers a variety of sporting activities, including hiking, biking, skiing, and camping.
Completion of the deal hinges on securing relevant regulatory consents and is expected to be finalised between the latter part of the second quarter and the beginning of the third quarter of 2025.
Post-acquisition, there are opportunities for realising synergies between ANTA Sports and Jack Wolfskin across various operational domains including supply chain optimisation, product innovation and retail management.
ANTA Sports will also gain from Jack Wolfskin’s proprietary material technologies and the expertise of its German-based engineering and design team, which is anticipated to improve ANTA Sports’ position in the outdoor sports market.
Topgolf Callaway Brands president and CEO Chip Brewer said: “I am pleased to announce we have reached an agreement to sell the Jack Wolfskin business to ANTA Sports, a global leader in sports apparel and footwear. This sale will allow us to increase our focus and optimise our resources on our core business.
“Importantly, the proceeds will further enhance our balance sheet and liquidity, reinforcing our financial flexibility ahead of our planned separation of Topgolf from our core operations. 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.”
Goldman Sachs is acting as financial advisor while Latham & Watkins provides legal counsel for Topgolf Callaway Brands in the transaction.
Topgolf Callaway’s brand portfolio includes names such as Topgolf, Callaway Golf, TravisMathew, Toptracer, Odyssey, OGIO, and Jack Wolfskin.
In February, Topgolf Callaway revealed right-sizing initiatives at Jack Wolfskin that led to decreases in the Active Lifestyle segment.
The company reported a slight decline in net revenue for the full year 2024, amounting to $4.24bn, marking a 1.1% drop from the previous year.
This decrease was mainly attributed to a weaker performance in both its Korean operations and the Jack Wolfskin Europe business as both regions faced challenging market conditions.
