A giant golf company is hoping to push its way into the active lifestyle category with its acquisition of Jack Wolfskin, a German eco-friendly, high performance apparel brand.
Callaway Golf Company announced that it has entered into an agreement to acquire Jack Wolfskin for more than $470 million by the end of first quarter 2019.
Jack Wolfskin is well-known in Europe and China, and has recently grown in popularity in the U.S. Through the fiscal year 2018, it reported $380 million in net sales, while Callaway makes about $1 billion in annual revenue.
"We are thrilled at the prospect of joining Callaway's growing portfolio of premium, active lifestyle brands," Jack Wolfskin's Chief Executive Officer Melody Harris-Jensbach said in a news release. "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."
Jack Wolfskin will continue to operate out of its headquarters located in Idstein, Germany, where the brand has more than 900 retail locations and more than 3,000 points of sales globally.
With new American owners, we can expect to see the bold, yellow label more in the U.S.