Chinese Investment Firm CPE Acquires Mammut

On July 30, Chinese investment firm CPE announced it had signed a share purchase agreement to acquire Mammut Sports Group AG from European private equity firm Jacobs Capital. Financial terms of the deal were not disclosed, and the transaction is expected to close in the coming months.

CPE stated it plans to preserve Mammut’s brand equity, technical excellence, and authentic heritage. Drawing on its investment experience and extensive network in China and the wider Asia-Pacific region, CPE aims to support the brand's growth in high-potential markets. This will involve optimizing product offerings, brand operations, retail channels, and the supply chain.

CPE is an asset management firm focused on private equity and driven by value creation, primarily investing in the technology, industrial, consumer, healthcare, and infrastructure sectors.

Its consumer portfolio includes Pop Mart (maker of the popular Labubu figures), prominent jeweler Lao Pu Gold, major tea chain Mixue, and leading recombinant collagen manufacturer Giant Biogene. Earlier this year, CPE also acquired Burger King China.

Although highly respected by outdoor professionals, the 160-year-old Swiss brand currently has less visibility in China compared to rivals like Arc'teryx, The North Face, and Columbia. The backing of Chinese capital could serve as the catalyst Mammut needs to break out of its niche and capture a larger share of the mass market.

A growing number of Chinese companies are taking the reins at top-tier global outdoor brands. Arc'teryx, Salomon, and Jack Wolfskin are now part of Chinese sportswear giant Anta’s portfolio. Meanwhile, LionRock Capital—an investment firm affiliated with rival sportswear giant Li-Ning—acquired Haglöfs in 2023. This wave of acquisitions is poised to reshape the competitive landscape of the global outdoor market.