Topgolf Callaway To Sell Jack Wolfskin Business for $290 Million
Carlsbad-based Topgolf Callaway Brands Corp. agreed to sell its Jack Wolfskin product line to Anta Sports Products Ltd. for $290 million. As part of the acquisition, Anta Sports Products will acquire 100% of the outstanding equity interests of Callaway Germany Holdco GmbH, which owns various entities that operate the Jack Wolfskin business. The golf brand was estimated to generate 325 million euros in revenue for 2025 based on the company's financial guidance.
The deal was unanimously approved by the Topgolf Callaway board. It is expected to close by the third quarter of 2025. Proceeds from the transaction will be used to enhance Topgolf Callaway Brands Corp's balance sheet and liquidity ahead of the planned separation of Topgolf from its core operations.
'I am pleased to announce we have reached an agreement to sell the Jack Wolfskin business to Anta Sports, a global leader in sports apparel and footwear,' said Chip Brewer, chief executive and president of Topgolf Callaway Brands, in a statement.
The Goldman Sachs Group, Inc. acted as financial advisor to Topgolf Callaway Brands Corp., and Latham & Watkins LLP acted as legal advisor. Morgan, Lewis & Bockius acted as legal advisor to Anta Sports Products Ltd.
Information for this article was sourced from Topgolf Callaway Brands Corp.
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