Mammut Acquired by Chinese Investment Firm, HQ and Leadership to Remain

Swiss outdoor brand Mammut Sports Group AG announced that the company will change ownership following an acquisition agreement signed last week.

Chinese investment firm CPE will take over ownership from Jacobs Capital. Although financial details of the deal were not released, Jacobs Capital was reportedly exploring the sale of the company earlier this year and seeking more than €500M.

Jacobs Capital has owned Mammut since 2021, and has worked to invest in expanding the product portfolio across apparel, footwear, and hardware, as well as invested in innovation and operational processes. Since then, Mammut has increased revenue at a double-digit annual rate, with more than 50% of revenue generated outside Europe, and has doubled operating profit margins.

CPE’s acquisition of the company is expected to help grow it further, particularly in Asia and North America. “Together with Jacobs Capital, we have achieved an extraordinary transformation. Mammut is now stronger financially and operationally, and more relevant internationally than ever before,” said CEO Heiko Schäfer to Fashion Network. “We have a clear strategy and a strong business plan. We are convinced that CPE is the right partner for this next phase of growth.”

The change in ownership is not expected to result in any fundamental changes within the company. Mammut’s headquarters, and innovation, development, and design departments will remain in Switzerland. Schäfer will stay on as CEO.

Last fall, Mammut also made headlines after launching their pithy anti-Gorpcore ‘Not A Streewear Brand’ campaign, which featured content of fake Mountainwear Rescue Squad officers stripping folks in cities of their jackets and issuing citations. The campaign poked fun at those wearing technical outerwear for daily tasks like drinking overpriced lattes in coffee shops, but was met with mixed reactions.

Related: Flooding Causes Major Damage at a Humble New York Ski Resort