Jacobs Capital, the owner of Swiss mountain performance brand Mammut, has signed an agreement to sell the brand to CPE, a Chinese alternative asset manager. According to the companies, CPE will support the Swiss company in its further global growth acceleration, particularly Asia and North America.
Mammut’s headquarters, including core innovation, design, and development functions will remain in Seon/Lenzburg, Switzerland. CEO Heiko Schäfer and the existing leadership team will continue to lead the company, for now at least.
According to the announcement of the sale, when Jacobs Capital invested in Mammut Sports Group (Telemos Capital, which acquired Mammut in 2021 from Swiss holding company Conzzeta, merged with Jacobs Holding earlier this year to form Jacobs Capital), the ambition was clear: “unlock the large potential of one of the most respected brands in the outdoor industry.” And the capital group apparently feels that mission was accomplished. Since Jacobs’ investment, Mammut’s total revenues have grown at a double-digit compound annual growth rate, revenues outside of Europe now represent well over 50%, and operating profit margins have more than doubled. Significant investments have been made in supply chain capabilities, operational processes, technology, brand, and talent.
“Having successfully completed this phase of Mammut’s transformation, Jacobs Capital and Mammut’s leadership team see this as the right moment to introduce a new long-term growth partner,” said the company.
“It is both a privilege and a responsibility to become the next steward of Mammut. Following the completion of the transaction, CPE is fully committed to preserving and building upon the brand equity, technical excellence and authentic heritage that have made Mammut one of the world’s most respected outdoor brands, while supporting its continued global expansion,” said Mark Mao, Managing Director of CPE.
Mammut was originally founded in 1862. Financial terms of this deal were not announced.
