Chinese asset manager buys Swiss sportswear firm

Chinese alternative asset manager CPE has agreed to acquire Mammut Sports Group AG from Jacobs Capital, as the Swiss outdoor performance brand looks to accelerate growth worldwide.

The transaction, announced Thursday, marks the end of a three-year transformation phase under Jacobs Capital, which invested in Mammut in 2021.

Mammut's financial performance improved significantly during the period. Since Jacobs' investment, total revenue has increased at a double-digit compound annual growth rate, with markets outside Europe now accounting for more than half of sales. Operating profit margins have more than doubled, according to the company.

Jacobs and Mammut's management team selected CPE as a long-term partner to support the company's next phase of international growth, with a particular focus on expanding in Asia and North America.

"We see substantial opportunities to continue growing the brand further internationally," Mammut's Chief Executive Officer Heiko Schafer said.

"We are convinced CPE is the right partner for this next phase of growth while preserving the values, heritage and identity that make Mammut unique."

CPE, a China-based alternative asset manager with a global investment strategy, has experience backing companies across sectors including consumer, advanced manufacturing and healthcare. The acquisition adds Mammut to CPE’s growing portfolio of consumer investments.

The firm has previously backed high-profile consumer companies, including Mixue Group, Laopu Gold and Pop Mart, and earlier this year acquired control of Burger King China, expanding its presence in the food and beverage sector.