Mammut Sports Group to Be Acquired by Chinese Asset Manager CPE

Mammut Sports Group AG, the Swiss mountain performance brand founded in 1862, is changing hands again. The company announced Thursday that Chinese alternative asset manager CPE has signed an agreement to acquire Mammut from Jacobs Capital, the European private equity firm that has owned the brand since 2021.

Financial terms of the deal were not disclosed. The transaction is expected to close in the coming months, pending customary regulatory approvals.

A Transformation Under Jacobs Capital

The sale caps a five-year stretch under Jacobs Capital, which acquired Mammut in June 2021 through its Telemos vehicle from Swiss holding company Conzzeta. During that period, Mammut says its total revenue grew at a double-digit compound annual rate, with more than half of sales now coming from outside Europe, while operating profit margins more than doubled. The company credits the period with modernizing its digital infrastructure, expanding its product range across apparel, footwear, and hardware, and sharpening its positioning as a leading mountain performance brand.

Mammut CEO Heiko Schäfer credited the partnership with Jacobs Capital for putting the company in a stronger position heading into its next phase, calling the transformation extraordinary and saying Mammut now enters this chapter from a position of strength.

CPE Eyes Growth in Asia and North America

CPE, which invests globally across sectors including consumer goods, advanced manufacturing, and healthcare, has built a portfolio of high-profile consumer brands in recent years, including Mixue Group, Laopu Gold, and Pop Mart, and earlier this year took control of Burger King China. Mammut becomes the firm's latest addition to that portfolio.

The company said CPE's network and capital should help accelerate Mammut's growth internationally, with a particular focus on Asia-Pacific and North America. Mammut will keep its headquarters in Seon/Lenzburg, Switzerland, and Schäfer's existing leadership team will remain in place following the deal's completion.

Jacobs Capital had explored a sale of Mammut earlier this year, with reports at the time suggesting the firm was seeking a valuation north of €500 million. Mammut is widely viewed as a direct competitor to Arc'teryx, and speculation had circulated that Chinese sportswear giant Anta — which already owns Arc'teryx, Amer Sports brands including Salomon, Descente, and Kolon Sport, and fully acquired Jack Wolfskin in 2025 — might be a contender for the deal. That speculation did not materialize, with CPE ultimately signing the agreement instead.

Jacobs Capital was advised on the transaction by Houlihan Lokey, Homburger, EY, and LEK.