Topgolf Callaway Brands Corp. (NYSE: MODG) has agreed to sell its Jack Wolfskin business to ANTA Sports for a base price of $290 million in cash. The deal is expected to close in the late second quarter or early third quarter of 2025.
Tthe company acquired Jack Wolfsking in November 2028 for apparoxiamately $476 million. ANTA Sports is a Hong Kong-based Chinse conglomerate whose holdings include Wilson Sporting Goods and Salomon parent Amer Sports (NYSE: AS) . NBA Stars Klay Thompson and Kyrie Irving each wear ANTA branded shoes.
Topgolf Callaway Brand President/CEO Chip Brewer said the sale allow his company “to increase our focus and optimize our resources on our core business.’’
The proceeds, Brewer said, will “further enhance’’ the company’s balance sheet and liquidity, reinforcing its financial flexibility ahead of a planned separation of Topgolf from core operations.’’
That separation is expected to be announced later this year, although its still unclear if it will be an IPO spinoff or a stand-alone sell.
“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,’’ Brewer said.
Although the Company is not updating its financial guidance at this time, embedded in its Feb. 24, 2025 full year guidance was an estimate for its Jack Wolfskin business of approximately Euro 325 million ($366 million) in revenue and $13.5 million in earnings.