- Prachi Singh |
Callaway Golf Company (Callaway) has completed the announced acquisition of Jack Wolfskin from the previous shareholders on January 4, 2019 for 418 million euros or approximately 476 million dollars at an exchange rate of 1,140 euros to the US dollar. While Callaway is headquartered in Carlsbad, California, 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. We look forward to partnering with the Jack Wolfskin management team to maximize this brand’s growth potential," said Chip Brewer, President and Chief Executive Officer of Callaway in a statement.
Jack Wolfskin's largest previous shareholders were affiliates of Bain Capital Credit, H.I.G. Bayside Capital CQS, Avenue Capital Group and BlueMountain Capital Management, which together owned more than 67 percent of the company. In FY18, Jack Wolfskin generated sales of 334 million euros.
"The Callaway team has proven over many years that they are great innovators and brand builders. We are excited to have them invest in our brand and to start working with them," added Jack Wolfskin's Chief Executive Officer Melody Harris-Jensbach.
After the 2017 acquisitions of TravisMathew and Ogio, Jack Wolfskin is the third acquisition by Callaway and the largest in the premium active lifestyle segment.