Mammut, a well-known Swiss sports and mountain equipment brand is being sold by Zurich-based industrial conglomerate Conzzeta to Telemos Capital, a London-based investment firm.
The two parties have signed a binding agreement. The deal is scheduled to be completed by mid-year. Financial details were not disclosed.
“Mammut has accomplished significant milestones in recent decades with its history and strong brand,” said Philippe Jacobs, number one of Telemos and co-chair of the board of the Zurich-based investment company Jacobs Holding. “We look forward to future opportunities through its premium products and services.”
Mammut sells hiking jackets and pants, as well as mountaineering and snow sports equipment. Last year it generated sales of 218 million francs ($239 million).
The company’s sale comes as no surprise: Conzzeta – a company listed on the Swiss stock exchange – had made it known last year that it would be selling off all of its operations, with the exception of its Bystronic division, which specializes in sheet metal fabrication.