Johnson Outdoors Inc. (Nasdaq: JOUT) today announced that the company has completed the sale of its Jack Wolfskin subsidiary, based in Idstein, Germany, for 64 million Euros ($62.9 million USD) to Bain Capital, a global private investment firm. Additional details about the transaction will be included in the company's 8-K, which is expected to be filed within the next several days with the SEC. SNEWS® View: Our sources in Europe and elsewhere tell us that while the sale may be complete, Johnson's subsequent termination of distribution of Wolfskin products in North America -- click here to read our story -- while still asserting its claim to a two-year distribution license, which essentially prohibits the new owners of Wolfskin from entering the North American market, is under serious review. Both sides are remaining publicly mum on the issue, naturally, while legal eagles doubtless peruse documents.
Johnson Outdoors Sells Jack Wolfskin to Bain Capital, Then Pulls Plug on NA Market
Johnson Outdoors last week announced the sale of its Jack Wolfskin subsidiary to Bain Capital, a global private investment firm, for 64 million Euros ($62.7 million USD). As part of the deal, Johnson retained the license to continue to distribute the brand in North America. ...read more