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Stock impact report

Callaway Golf to acquire German active wear brand Jack Wolfskin for about $476 million [MarketWatch]

Callaway Golf Company (ELY) 
Last callaway golf company earnings: 2/10 04:20 pm Check Earnings Report
Company Research Source: MarketWatch
Callaway Golf to acquire German active wear brand Jack Wolfskin for about $476 million Callaway Golf Co. ELY, -0.94% said Friday it has reached a deal to acquire Jack Wolfskin, a maker of outdoor clothing, footwear and equipment based in Germany, for the equivalent of about $476 million. The deal is aimed at helping the company expand into the active lifestyle market, following its 2017 acquisition of TravisMathew and Ogio. The deal is expected to shave 6 cents off adjusted per-share earnings in the first year after closing, but to boost earnings in the second year. It is expected to close in the first quarter of 2019. Jack Wolfskin will continue to operate out of its headquarters in Idstein, Germany. The brand is a big player in China as well as Europe. Callaway Golf shares were not yet active premarket, but have gained 35.8% in 2018, while the S&P 500 SPX, -0.22% has gained 2.4%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up h Show less Read more
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