MODG — Expected Closing of Jack Wolfskin Sale
Jul 1, 2025, 12:00:00 AM UTC
Summary
Topgolf Callaway Brands Corp. plans to close the sale of its Jack Wolfskin business in early Q3 2025, pending regulatory approval and other closing conditions. The agreement, valued at $290 million, was announced on April 10, 2025, involving the sale of 100% of the equity interests of Callaway Germany Holdco GmbH, the entity managing Jack Wolfskin. The transaction aims to strengthen Topgolf's financial position by divesting from the outdoor apparel market. Additionally, adjustments related to net working capital may affect the final purchase price.
Company
TOPGOLF CALLAWAY BRANDS CORP (MODG)NYSE — Consumer Cyclical: Manufacturing, Leisure: Sporting & Athletic Goods Nec
www.callawaygolf.comSimilar Events
Expected Closing of Jack Wolfskin Sale
Topgolf Callaway Brands Corp. is set to close the sale of its Jack Wolfskin business for $290 million in cash to Anca Holdco GmbH & Co. KG, a subsidiary of ANTA Sports Products Limited. The sale is expected to finalize in late Q2 2025, subject to meeting standard closing conditions such as regulatory approvals. The transaction involves the sale of 100% of the equity interests in Callaway Germany Holdco GmbH, which oversees the Jack Wolfskin operations, expected to impact the financial posture of Topgolf significantly. The agreement has been approved by the board of directors and includes provisions related to warranties and covenants, alongside an amendment to the company's credit facility to accommodate the sale.
Sale ClosingDeadline for Closing of Jack Wolfskin Sale
Topgolf Callaway Brands Corp. has set a deadline for the sale of its Jack Wolfskin business to Anca Holdco GmbH & Co. KG. If the sale is not closed by December 31, 2025, the transaction may be terminated. The sale agreement, valued at $290 million, counts on several conditions, including approvals from merger and foreign investment authorities. Topgolf's board has unanimously approved the deal, which involves selling 100% of Callaway Germany Holdco GmbH. The closing is targeted for late Q2 or early Q3 2025. This transaction enables Topgolf to focus on its core operations while expanding ANTA Sports' portfolio, highlighting a strategic shift in ownership and market positioning.
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Transaction Closing