Topgolf Callaway To Sell Jack Wolfskin To ANTA Sports For $290 Mln In Cash

(RTTNews) - Topgolf Callaway Brands Corp. (MODG), a sports equipment manufacturing company, on Thursday announced that it has agreed to sell its Jack Wolfskin business to ANTA Sports Products Ltd. (ANPDY) for $290 million in cash.

The deal is expected to close in the late second or early third quarter.

The company said it expects no change in its financial guidance.

In its February 24 full-year outlook, Topgolf had estimated that the Jack Wolfskin business would bring in about 325 million euros in revenue and 12 million euros in adjusted EBITDA.

Due to Jack Wolfskin's usual seasonal trends, the full-year revenue anticipated was about 115 million euros. Adjusted EBITDA loss in the first half of 2025 is expected to be 18 million euros.

For the second half of the year, the company expects around 210 million euros in revenue and 30 million euros in adjusted EBITDA.

In the pre-market trading, Topgolf is 0.32% lesser at $6.32 on the Nasdaq.

Wednesday, ANTA Sports had closed 3.49% higher at $257.58 on the OTC Market.