Anta Sports Products (2020) said it plans to acquire German outdoor product brand Jack Wolfskin for US$290 million (HK$2.26 billion) as it aims to further strengthen its outdoor sports segment.
The acquisition is expected to close late second quarter or early third quarter this year and is subject to customary closing conditions, including but not limited to the receipt of certain regulatory approvals, Anta said in an exchange filing on Thursday.
Jack Wolfskin develops professional outdoor products targeted at the active outdoor and urban outdoor customer categories, spanning hiking, biking, skiing and camping, the filing said.
The purchase aligns with the group’s “single-focus, multi-brand, globalization” strategy, Anta said, adding that it stands to benefit from Jack Wolfskin’s exclusive material technologies and the extensive experience of their German engineering and design team, which would further bolster the group’s competitiveness in the outdoor sports segment.
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