Continuing their recent run of acquisitions, Callaway Golf has announced the pending purchase of Jack Wolfskin, the premium German outdoor brand. With a purchase price of €418 million (approximately $476 million) the outdoor brand is added to a portfolio including golf lifestyle brand TravisMathew and luggage brand Ogio.
Jack Wolfskin is an international, premium outdoor apparel, footwear and equipment brand. The company designs premium products targeted at the active outdoor and urban outdoor customer categories.
“We are very excited to welcome the Jack Wolfskin brand into the Callaway portfolio,” commented Chip Brewer, President and Chief Executive Officer of Callaway. “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. It also helps Callaway expand its presence in the high-growth, active lifestyle category.”
Mr. Brewer continued, “We are also very excited to work with Jack Wolfskin’s great leadership team, led by CEO Melody Harris-Jensbach, to maximize this brand’s growth potential.”
“We are thrilled at the prospect of joining Callaway’s growing portfolio of premium, active lifestyle brands,” said Jack Wolfskin’s Chief Executive Officer Melody Harris-Jensbach. “Callaway has proven over many years that they are great innovators and brand builders. We see that they really invest in the brands they acquire and couldn’t be happier to be working with them.”
Assuming a 1.140 Euro to US Dollar conversion rate, Jack Wolfskin had net sales of $380 million in the fiscal year ended September 30, 2018, based on preliminary unaudited results provided by Jack Wolfskin.