Mammut passes to a Chinese investor for 500 million euros

Mammut is changing hands. The English holding company Jacobs Capital has sold the Swiss mountain equipment and clothing brand to the Chinese investor CPE.

The official statement does not give the value of the deal. According to Bloomberg the transaction is worth 500 million euros, around 463 million francs.

The company was founded in 1862 and is based at Seon, in Aargau. It employs around 900 people and is present in some fifty countries. More than half of its revenue now comes from outside Europe.

CPE manages assets of over 150 billion yuan, around 18 billion francs, on behalf of some 200 investors. This is its first operation in Switzerland.

What changes and what stays

The new owner says it wants to expand the brand's presence in China and in the Asia-Pacific region. The priorities set out include product innovation, adaptation to local markets, wider distribution channels and supply chain optimisation.

Operations and management in Switzerland are being maintained. Chief executive Heiko Schäfer stays in post with his team. The head office and central functions remain in Aargau.

The company says it intends to preserve its Swiss roots, the technical performance of its products, its quality and its commitment to sustainability, along with its link to the mountain sports community.

Jacobs Capital had bought Mammut in 2021. For the period of its ownership the holding company reports doubled profitability and significant growth.

The deal joins a series of Swiss brands passing into foreign ownership. The distance between statements of continuity and the industrial decisions of the following years is usually measured by whether development functions are kept and by the weight of production, points the statement does not spell out.