Swiss holding company Conzzeta announced that it had reached an agreement to sell Mammut to financial investor Telemos Capital.
In December 2019, Conzzeta said it had decided to explore sales offers for Mammut after determining the company’s future focus would be on its Bystronic business unit.
“I am extremely proud of our entire team and our development over recent years. Today’s announcement is great news,” said CEO of Mammut Sports Group, Oliver Pabst. “Steered by our purpose ‘To Create a World Moved by Mountains’, we’re looking forward to working with Telemos and with our partners to continue expanding the leading position of Mammut Swiss 1862 as a premium brand in existing as well as new markets, and to impress with sustainable, innovative and digital product solutions.”
With the signing of the agreement, the strategic transformation has been completed. Subject to all necessary regulatory approvals, the closing of the acquisition of the Mammut Sports Group is expected by mid-2021.
Telemos Capital is a European private equity investment firm with a Swiss background. The firm was founded and is chaired by Philippe Jacobs, who is also co-chairman of Jacobs Holding AG, Zurich, Switzerland.
“Mammut, with its rich heritage and strong brand, has achieved significant milestones over the past decades and we are very excited about the future possibilities with the Mammut premium outdoor products and services,” said Philippe Jacobs, executive chairman of Telemos Capital.
Mammut said it will gain a new, strong partner in Telemos, who will help drive the Swiss outdoor company forward in the further development of its business model. This relates primarily to the three areas of products, (digital) channels and market growth in new regions. With the new owner, Mammut will preserve its Swiss core, standards and accelerate its transformation.
“It was a pleasure and honor for me to accompany the journey of Mammut over the past almost 6 years. The Mammut team achieved significant milestones over this period of time, for me most notably the development of the products into a more modern, fresh and young look and feel while still keeping the premium quality and performance features,” said Michael Willome, CEO of Conzzeta Group. “I am especially impressed by the new product ranges for the female clients who finally are fully participating in the rich offerings of Mammut. In addition, the strong push for the digital channels results in very high and continued growth through mammut.com and relevant marketplaces. I wish Oliver Pabst, his team and all the people of Mammut the very best for the future under new ownership. I am convinced that this next chapter in the long history of Mammut will be a prosperous one.”
Photo courtesy Mammut