European outdoor brand Jack Wolfskin will become part of the iconic American golf and active lifestyle corporation’s portfolio in early 2019.
In a surprise announcement, Callaway Golf Company today revealed it will acquire Jack Wolfskin, a German outdoors brand that has pushed into the American market recently with high-performance, eco-friendly gear and apparel.
According to a press release, the acquisition will cost 418 million euros, or about $476 million. Jack Wolfskin reported $380 million in net sales through the fiscal year 2018.
“We are thrilled at the prospect of joining Callaway’s growing portfolio of premium, active lifestyle brands,” said Jack Wolfskin 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.”
Callaway Acquires Jack Wolfskin
Callaway CEO Chip Brewer said the move, “helps Callaway expand its presence in the high-growth, active lifestyle category.”
In recent years, Jack Wolfskin pushed into the American outdoors market with innovative gear, apparel, and footwear. In 2017, GearJunkie awarded the brand Best in Show honors for its Eco Jacket. Jack Wolfskin touted the product as “the industry’s first fully-recycled waterproof-breathable jacket.”
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Though it’s not top-of-mind to many American consumers, Jack Wolfskin has grown substantially since it founding in 1981. Based in Idstein, Germany, the brand maintains 900-plus retail locations and more than 1,000 employees.
Meanwhile, California-based golf giant Callaway does just shy of $1 billion in annual revenue. By acquiring Jack Wolfskin, Callaway makes a big step into the core outdoors market. And it’s clout within the U.S. could help bring Jack Wolfskin into the mainstream and more American homes.
The post Golf Giant Callaway to Acquire Jack Wolfskin for $476 Million appeared first on GearJunkie.
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