The deal is about to shut throughout the late second quarter or early third quarter of 2025 and is topic to customary closing circumstances.
Chip Brewer, president and CEO of Topgolf Callaway Manufacturers, stated: “I’m happy to announce we have now reached an settlement to promote the Jack Wolfskin enterprise to Anta Sports activities, a worldwide chief in sports activities attire and footwear.
“This sale will enable us to extend our focus and optimise our assets on our core enterprise. Importantly, the proceeds will additional improve our steadiness sheet and liquidity, reinforcing our monetary flexibility forward of our deliberate separation of Topgolf from our core operations. We imagine Anta Sports activities will probably be a superb steward of the long-lasting Jack Wolfskin model and we thank our Jack Wolfskin staff who’ve labored diligently to right-size this enterprise and put together it for this subsequent chapter.”
It comes as Topgolf Callaway predicted on 24 February 2025 in its full yr steering an estimate of €325m (£281m) in income and €12m (£10m) of adjusted EBITDA for the Jack Wolfskin model.
Callaway Golf Firm purchased Jack Wolfskin for €418m (£372m) in 2018.
Callaway Golf Firm was the unique identify of the enterprise earlier than it acquired Topgolf and rebranded as Topgolf Callaway Manufacturers in 2021.
Nonetheless, in 2024 Topgolf Callaway Manufacturers introduced it’ll cut up into two separate firms, one specializing in golf gear and the opposite on Topgolf’s leisure venues.
