Topgolf Callaway Brands Corp. has completed the sale of its Jack Wolfskin business to ANTA Sports for $290 million, subject to certain customary closing adjustments.
Callaway acquired Jack Wolfskin in January 2019 for $476 million.
The transaction, which closed effective May 31, represents a significant milestone for Callaway as it refocuses its strategic priorities on its core businesses and enhances the company’s financial flexibility ahead of the planned separation of Topgolf from its core operations.
Topgolf Callaway Brands president and CEO Chip Brewer stated: “We are excited to announce the successful completion of the sale of our Jack Wolfskin business to ANTA Sports. We believe that ANTA Sports will continue to uphold the integrity and reputation of the Jack Wolfskin brand, and we extend our gratitude to our Jack Wolfskin employees for their hard work and dedication in positioning the business for its next chapter.”
Anta owns the Anta athletics brand and operates retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports.
The transaction, which closed effective May 31, remains subject to certain customary closing adjustments.
