Key Takeaways
- • Jacobs Capital has signed an agreement to sell Mammut Sports Group, a Swiss premium outdoor brand, to CPE, a Chinese alternative asset manager, marking an exit from the Swiss holding company's five-year ownership period that began in June 2021.
- • Financial terms were not disclosed; however, SGB Executive reported in January 2026 that Jacobs Capital had been seeking more than €500 million (~$584 million) for the sale and had retained Houlihan Lokey as financial advisor.
- • Under Jacobs Capital's ownership, Mammut underwent a comprehensive operational and strategic transformation that materially improved the company's financial and operational performance, positioning it for the next phase of international growth.
- • Mammut's China business has demonstrated exceptional momentum, with sales rising 85% in 2023 and 97% in 2024, indicating strong market traction that likely influenced the acquisition strategy by the Chinese-based buyer.
- • The transaction reflects a broader trend of Chinese alternative asset managers acquiring established European brands, with CPE specifically targeting Mammut's potential while respecting the company's Swiss heritage and premium positioning.
Summary
Jacobs Capital, the Swiss holding company, has signed an agreement to sell Mammut Sports Group to CPE, a Chinese alternative asset manager. The transaction represents an exit from Mammut following a five-year ownership period that commenced in June 2021, when Jacobs Capital's predecessor firm Telemos Capital acquired the brand from Swiss holding company Conzzeta. Telemos Capital subsequently merged with Jacobs Holding earlier in 2026 to form Jacobs Capital.
While specific transaction value was not disclosed in the announcement, SGB Executive reported in January 2026 that Jacobs Capital had been seeking more than €500 million (approximately $584 million) and had engaged Houlihan Lokey as financial advisor for the sale process. The deal is positioned as a graduation point for Mammut, which has undergone significant modernization under Jacobs Capital's stewardship. Philippe Jacobs, co-chairman and founder of Jacobs Capital, stated that the company has "modernized the company from the inside out and materially improved its financial and operational performance," describing CPE as "the ideal partner to support the brand's continued international growth while respecting its unique Swiss DNA."
Mammut's performance trajectory, particularly in China, appears to have been a key factor in the acquisition. Sales in China grew 85% in 2023 and 97% in 2024, demonstrating accelerating momentum in the region. The brand's diversified distribution model—spanning digital channels, company-operated stores, and premium retail partnerships—positions it well for continued international expansion under CPE's ownership. The transaction underscores the growing appetite among Chinese alternative asset managers to acquire established European luxury and performance brands with strong heritage and market positioning.
While specific transaction value was not disclosed in the announcement, SGB Executive reported in January 2026 that Jacobs Capital had been seeking more than €500 million (approximately $584 million) and had engaged Houlihan Lokey as financial advisor for the sale process. The deal is positioned as a graduation point for Mammut, which has undergone significant modernization under Jacobs Capital's stewardship. Philippe Jacobs, co-chairman and founder of Jacobs Capital, stated that the company has "modernized the company from the inside out and materially improved its financial and operational performance," describing CPE as "the ideal partner to support the brand's continued international growth while respecting its unique Swiss DNA."
Mammut's performance trajectory, particularly in China, appears to have been a key factor in the acquisition. Sales in China grew 85% in 2023 and 97% in 2024, demonstrating accelerating momentum in the region. The brand's diversified distribution model—spanning digital channels, company-operated stores, and premium retail partnerships—positions it well for continued international expansion under CPE's ownership. The transaction underscores the growing appetite among Chinese alternative asset managers to acquire established European luxury and performance brands with strong heritage and market positioning.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.