Jack Wolfskin to be Acquired by Chinese Sports Giant Anta

In a significant development in the outdoor apparel industry, the German brand Jack Wolfskin is set to be sold to the Chinese sportswear company Anta Sports, based in Hong Kong. The acquisition deal is valued at approximately $290 million (around EUR263 million). Jack Wolfskin, which has its roots in Idstein, Germany, has been under the ownership of the American golf equipment firm Topgolf Callaway Brands since 2018 when it was purchased for about EUR418 million. The decision to sell Jack Wolfskin was announced as part of Callaway's strategy to refocus on its core business operations.

For the current fiscal year, Jack Wolfskin is projecting revenues of around EUR325 million, with an estimated operational profit (EBITDA) of EUR12 million. It is noteworthy that historically, the brand generates about two-thirds of its sales in the second half of the year, reflecting seasonal trends in outdoor gear demand. The company employs roughly 1,500 staff members.

Anta Sports aims to enhance its outdoor segment through this acquisition, highlighting that the integration of Jack Wolfskin aligns with its broader global expansion strategy. The company foresees potential synergies in supply chain management, product development, and retail operations. Anta Sports has garnered international recognition primarily through its association with Amer Sports, a Finnish entity listed on the New York Stock Exchange, in which Anta became a significant stakeholder in 2019. Amer Sports boasts a portfolio of established brands, including Atomic, Salomon, Wilson, Peak Performance, and Arc'teryx.

Jack Wolfskin has experienced a tumultuous history since its inception in the early 1980s. The company attracted the attention of private equity firm Blackstone in 2011, which invested EUR700 million. However, Jack Wolfskin's attempts to expand internationally struggled, leading Blackstone to sell the company to a consortium of hedge funds. In 2019, the brand was transferred to Callaway.