Topgolf Callaway Brands Corp. announced it has entered into an agreement to sell its Jack Wolfskin business to ANTA Sports for a base price of $290 million in cash, subject to customary adjustments. The transaction is expected to close in late the second quarter or early third quarter of 2025.
CEO Chip Brewer stated that this sale will allow the company to increase its focus and optimize resources on its core businesses, while also enhancing its balance sheet and liquidity. This move is a strategic step ahead of the planned separation of Topgolf from its core operations.
For the full year 2025, Jack Wolfskin was estimated to contribute approximately Euro 325 million in revenue and Euro 12 million of Adjusted EBITDA. The divestiture is a significant step in reshaping the company's corporate structure to maximize shareholder value and streamline operations.
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