Mammut owner explores €500 million sale amid outdoor consolidation

Jacobs Capital is exploring a sale of Mammut Sports Group, the 162-year-old Swiss mountain sports brand, seeking more than €500 million from a potential transaction, Bloomberg reported, citing people familiar with the matter. The company has retained Houlihan Lokey as financial advisor to manage the process.

Deliberations are preliminary and may not result in a transaction, the people said, requesting anonymity because the information is private. Spokespeople for Jacobs Capital, Mammut, and Houlihan Lokey declined to comment.

Mammut sale could value Swiss mountaineering brand at double 2021 price

The potential valuation represents more than double the CHF 230 million (€209.7 million) enterprise value that Telemos Capital paid to acquire Mammut from Swiss holding company Conzzeta (now Bystronic) in June 2021.

The increased valuation reflects both Mammut’s growth trajectory and broader consolidation dynamics in the outdoor market. Founded in 1862 in Seon, Switzerland, Mammut manufactures premium gear for mountaineering, climbing, hiking, and skiing, with a reputation for technical expertise and Swiss heritage positioning.

The brand generated CHF 218 million (€198.7 million) in revenue in 2020 before the Telemos acquisition. Recent performance indicators suggest continued growth, with online sales through mammut.com reaching approximately $55 million in 2024, according to e-commerce analytics platforms. The company’s North American operation aims to exceed $100 million in revenue to meet ownership growth targets, according to managing director Kris Kuster, who spoke to industry media in December 2024.

For potential acquirers, Mammut offers established brand equity in the premium outdoor segment, growing presence in key Asian markets, and operational infrastructure across Europe, North America, and China. The brand has invested in sustainability initiatives including its LoopInsulation technology that repurposes rope production waste, and maintains technical credibility through partnerships with elite athletes and mountain sports organizations.