M&A Deal Summary

Topgolf Callaway Brands Acquires Jack Wolfskin KGaA

On November 30, 2018, Topgolf Callaway Brands acquired apparel/textiles company Jack Wolfskin KGaA from The Blackstone Group for 476M USD

Acquisition Highlights
  • This is Topgolf Callaway Brands’ 3rd transaction in the Apparel/Textiles sector.
  • This is Topgolf Callaway Brands’ 2nd largest (disclosed) transaction.
  • This is Topgolf Callaway Brands’ 1st transaction in Germany.

M&A Deal Summary
Date 2018-11-30
Target Jack Wolfskin KGaA
Sector Apparel/Textiles
Buyer(s) Topgolf Callaway Brands
Sellers(s) The Blackstone Group
Deal Type Add-on Acquisition
Deal Value 476M USD
Advisor(s) Houlihan Lokey (Financial)
Kirkland & Ellis (Legal)

Target

Jack Wolfskin KGaA

Idstein, Germany
Jack Wolfskin GmbH & Co. KGaA is a provider of functional outdoor clothing, footwear and equipment in Europe and the largest franchisor in the German specialist sports retail market. Jack Wolfskin products are currently available in more than 400 franchise stores and at 4,000 points of sale across Europe and Asia. Jack Wolfskin products feature a high degree of functionality, user-friendliness and innovation.

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Buyer(S) 1

Buyer

Topgolf Callaway Brands

Carlsbad, California, United States
Category Company
Founded 1982
Sector Consumer Products
Employees32,000
Revenue 4.3B USD (2023)
DESCRIPTION
Entrance to Callaway's corporate headquarters in Carlsbad, California.
Entrance to Callaway's corporate headquarters in Carlsbad, California.

Topgolf Callaway Brands designs, manufactures and sells golf clubs (drivers, fairway woods, hybrids, irons, wedges and putters) and golf balls, and also sells golf accessories (such as golf bags, golf gloves, headwear, towels, umbrellas and travel gear) under the Topgolf Callaway Brands and Odyssey brand names. The Company generally sells its products to retailers, directly and through its wholly-owned subsidiaries, and to third-party distributors. Topgolf Callaway Brands also licenses its trademarks and service marks in exchange for a royalty fee to third parties for use on golf related accessories, including apparel, footwear, eyewear, rangefinders and practice aids. Topgolf Callaway Brands was founded in 1982 and is based in Carlsbad, California.

DEAL STATS #
Overall 7 of 8
Sector (Apparel/Textiles) 3 of 3
Type (Add-on Acquisition) 6 of 6
Country (Germany) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-03 TravisMathew

Huntington Beach, California, United States

TravisMathew LLC is a golf and lifestyle apparel company. TravisMathew designs and sells premium men's apparel for work and play. TravisMathew LLC was founded in 2007 and is based in Huntington Beach, California.

Buy $126M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-27 Topgolf

Dallas, Texas, United States

Topgolf is a global sports entertainment company offering competitive golfing games for all ages and skill levels and advanced technology to track the accuracy and distance of players shots. Topgolf was founded in 2000 and is based in Dallas, Texas.

Buy $2.0B

Seller(S) 1

SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.

DEAL STATS #
Overall 127 of 174
Sector (Apparel/Textiles) 4 of 6
Type (Add-on Acquisition) 48 of 67
Country (Germany) 4 of 4
Year (2018) 12 of 13
Size (of disclosed) 48 of 57
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-19 DJO Global

Vista, California, United States

DJO Global, Inc. is a manufacturer of rehabilitation and regeneration products for the non-operative orthopedic and spine markets. DJO Global offers a range of products includes rigid knee braces and soft goods, cold therapy, vascular systems, and bone stimulation and regeneration products. DJO Global, Inc. was founded in 1978 and is based in Vista, California.

Sell $3.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-03 Crocs

Broomfield, Colorado, United States

Crocs is a designer, manufacturer and marketer of footwear for men, women and children under the crocs brand. Crocs was established in 1999 and is based in Broomfield, Colorado.

Sell -
Mergr

Product

Company

Legal