Edition:
United Kingdom

Callaway Golf Co To Acquire Jack Wolfskin For €418 Mln


Friday, 30 Nov 2018 

Nov 30 (Reuters) - Callaway Golf Co ::CALLAWAY GOLF COMPANY ENTERS INTO AGREEMENT TO ACQUIRE JACK WOLFSKIN, A PREMIUM OUTDOOR APPAREL BRAND, FOR €418 MILLION.CALLAWAY GOLF CO - DEAL FOR EUR 418 MILLION.CALLAWAY GOLF CO - POST TRANSACTION, JACK WOLFSKIN WILL CONTINUE TO OPERATE OUT OF ITS HEADQUARTERS LOCATED IN IDSTEIN, GERMANY.CALLAWAY GOLF CO - FULL YEAR 2019 NET SALES ARE ESTIMATED TO BE FLAT COMPARED TO PRIOR YEAR FOR JACK WOLFSKIN.CALLAWAY GOLF CO - FULL YEAR NON-GAAP EARNINGS PER SHARE (EPS) IS ESTIMATED TO BE $0.06 DILUTIVE IN YEAR 1 AND ACCRETIVE IN YEAR 2 FROM DEAL.CALLAWAY GOLF CO - POST TRANSACTION, JACK WOLFSKIN WILL CONTINUE TO OPERATE OUT OF ITS HEADQUARTERS LOCATED IN IDSTEIN.CALLAWAY GOLF CO - INTENDS TO FINANCE TRANSACTION WITH A $476 MILLION TERM LOAN FACILITY.CALLAWAY GOLF CO - FULL YEAR NON-GAAP EARNINGS PER SHARE (EPS) IS ESTIMATED TO BE $0.06 DILUTIVE IN YEAR 1 AND ACCRETIVE IN YEAR 2 FOR JACK WOLFSKIN.CALLAWAY GOLF CO - FOR JACK WOLFSKIN FULL YEAR GAAP EPS IS EXPECTED TO BE $0.25-$0.35 DILUTIVE IN YEAR 1 AND APPROXIMATELY NEUTRAL IN YEAR 2.