CARLSBAD (CNS) - Carlsbad-based Callaway Golf Co. announced Friday it completed the acquisition of outdoor apparel and equipment company Jack Wolfskin for $476 million, subject to a working capital adjustment.
Jack Wolfskin, which will continue to operate out of its headquarters in Idstein, Germany, produces premium outdoor apparel, footwear and other outdoor equipment.
"We believe Jack Wolfskin fits extremely well with our current brands and furthers our stated plan of strategic investments in complementary areas," said Chip Brewer, president and CEO of Callaway Golf. "We look forward to partnering with the Jack Wolfskin management team to maximize this brand's growth potential."
In 2017, Callaway acquired golf and lifestyle apparel company TravisMathew LLC for $125.5 million and sports bag maker Ogio International for $75.5 million.
"We are thrilled to be joining Callaway's growing portfolio of premium, active lifestyle brands," said Melody Harris-Jensbach, CEO of Jack Wolfskin. "The Callaway team has proven over many years that they are great innovators and brand builders."
The acquisition is expected to dilute Callaway's earning per share by 11 cents this year, according to the company.