Topgolf Callaway to offload Jack Wolfskin brand in $290m deal
Although the company is not updating its financial guidance at this time, embedded in its 24 February 2025 full year guidance was an estimate for its Jack Wolfskin business of approximately €325m (£282.6m) in revenue and €12m (£10.44m) of adjusted EBITDA
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Topgolf Callaway Brands has announced that it has entered into an agreement to sell its Jack Wolfskin business to Anta Sports for a base price of $290m (£222m) in cash, subject to net working capital and other customary adjustments.
The transaction is expected to close in the late second quarter or early third quarter of 2025 and is subject to customary closing conditions, including receipt of certain regulatory approvals.
Although the company is not updating its financial guidance at this time, embedded in its 24 February 2025 full year guidance was an estimate for its Jack Wolfskin business of approximately €325m (£282.6m) in revenue and €12m (£10.44m) of adjusted EBITDA.
This full year estimate is comprised of approximately €115m (£100.14m) in revenue and a loss of €18m (£15.67m) of adjusted EBITDA for the first half of 2025, and €210m (£182.8m) in revenue and €30m (£26.12m) of adjusted EBITDA in the second half of 2025.
Chip Brewer, president and CEO of Topgolf Callaway Brands, said: “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. This sale will allow us to increase our focus and optimise our resources on our core business.
“Importantly, the proceeds will further enhance our balance sheet and liquidity, reinforcing our financial flexibility ahead of our planned separation of Topgolf from our core operations. We believe Anta Sports will be a good steward of the iconic Jack Wolfskin brand and we thank our Jack Wolfskin employees who have worked diligently to right-size this business and prepare it for this next chapter.”
