Carlsbad-based Callaway Golf Co. announced Friday it has entered into an agreement to purchase outdoor apparel and equipment company Jack Wolfskin for around $476 million, based on current euro to U.S. dollar conversion rates.
Jack Wolfskin, which will continue to operate out of its headquarters in Idstein, Germany, produces premium outdoor apparel, footwear and other outdoor equipment.
“Jack Wolfskin is a premium outdoor brand with tremendous international reach, being a leading brand in the European market and having a substantial presence in China,” said Chip Brewer, president and CEO of Callaway Golf. “It also helps Callaway expand its presence in the high-growth, active lifestyle category.”
In 2017, Callaway acquired golf and lifestyle apparel company TravisMathew LLC for $125.5 million and sports bag maker Ogio International for $75.5 million.
Callaway said Jack Wolfskin had net sales of $380 million, based on current euro to U.S. dollar conversion rates, in the 2018 fiscal year ending Sept. 30.
“We are thrilled at the prospect of joining Callaway’s growing portfolio of premium, active lifestyle brands,” said Melody Harris-Jensbach, CEO of Jack Wolfskin. “Callaway has proven over many years that they are great innovators and brand builders.”
The acquisition is expected to be completed in the first quarter of 2019, according to Callaway.
–City News Service