US-based Callaway Golf Company has completed its EUR418m (US$476m) acquisition of leading European outdoor clothing, footwear and equipment business Jack Wolfskin.
The deal furthers Callaway’s push into the premium active lifestyle category after its 2017 acquisitions of TravisMathew and Ogio, with the company saying it intends to invest in the Jack Wolfskin brand for the long term
Carlsbad, California based Callaway is a leading golf brand in the US and develops innovative and high-performance golf equipment. Post-acquisition, Jack Wolfskin will continue to operate out of its Idstein, Germany headquarters.
“We believe Jack Wolfskin fits extremely well with our current brands and furthers our stated plan of strategic investments in complementary areas,” says Chip Brewer, president and CEO of Callaway. “We look forward to partnering with the Jack Wolfskin management team to maximize this brand’s growth potential.”
“The Callaway team has proven over many years that they are great innovators and brand builders,” adds Jack Wolfskin’s CEO Melody Harris-Jensbach. “We are excited to have them invest in our brand and to start working with them.”
Generating sales of EUR334m in FY18, Jack Wolfskin is one of the leading providers of functional outdoor clothing, footwear and equipment in Europe and the largest franchisor in the German specialist sports retail market.
In recent years, the company has introduced numerous material and product innovations, as well as being a member of Fair Wear Foundation and a Bluesign system partner. It has also been a member of the Zero Discharge of Hazardous Chemicals (ZDHC) initiative since 2012.