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Topgolf Callaway Parts with Jack Wolfskin Brand

Originally posted on Athlon Sports | By Alex Miceli | Last updated Apr 14, 2025 12:00 PM ET

Topgolf Callaway announced an agreement to sell Jack Wolfskin on Thursday.

The sale to Anta Sports, a Chinese sports apparel and footwear company, was agreed upon at a base price of $290 million in cash.

"I am pleased to announce we have reached an agreement to sell the Jack Wolfskin business to Anta Sports, a global leader in sports apparel and footwear," commented Chip Brewer, president and CEO of Topgolf Callaway Brands.

"This sale will allow us to increase our focus and optimize our resources on our core business. Importantly, the proceeds will further enhance our balance sheet and liquidity, reinforcing our financial flexibility ahead of our planned separation of Topgolf from our core operations. 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."

Topgolf Callaway purchased Jack Wolfskin in early 2019 for $476 million. However, the brand has struggled since the acquisition, eventually exiting the U.S. in 2024.

At the time, the move was applauded by industry analyst Matt Powell.

“It makes sense to pull back in the U.S. and use the original countries to fix the brand,” Powell said. “Once that is accomplished, the brand can be reintroduced to the U.S.”

Raymond James analyst Joseph Altobello, who follows the stock, viewed the transaction favorably, stating in an analyst report that Topgolf Callaway can now focus on its core business and debt reduction.

The Jack Wolfskin sales, which will close in the late second or early third quarter, are just the company's first brand divestitures. The Topgolf brand is on the block for either a sale or spinoff.

Topgolf Callaway stock saw a slight uptick on the news announced just before the market opened but flattened out through the remainder of Thursday and Friday’s trading.

The stock closed at $6.27 on Friday. It is up 0.27, or 4.50%, in the last five days but down 60.06% over the past year.

This article first appeared on Athlon Sports and was syndicated with permission.

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