Mammut Sold to Chinese Firm CPE for Up to €500M on July 31

Mammut, the 164-year-old Swiss outdoor equipment maker, has been sold to Chinese alternative asset manager CPE. Jacobs Capital, which bought the company in June 2021, agreed to the sale on July 30. The deal is valued at up to €500 million and remains subject to regulatory approval. Mammut’s headquarters and design operations will stay in Seon and Lenzburg, Aargau. CEO Heiko Schäfer and the existing management team will continue leading the company.

Three years of Swiss transformation before the sale

Jacobs Capital invested heavily in Mammut from 2021 to 2026. The company achieved double-digit annual revenue growth and more than doubled its operating profit margin during this period. Mammut now generates over 50% of its sales outside Europe, with strong growth in Asia and Japan. The company modernized its digital infrastructure, refined its brand strategy, and optimized operations while preserving its Swiss technical expertise and heritage.

CPE’s strategy: Asia and North America expansion

CPE is a China-based alternative asset manager with a global portfolio spanning artificial intelligence, healthcare, and consumer goods. The firm previously invested in Mixue Bingcheng, Laopu Gold, Pop Mart, and acquired control of Burger King China earlier in 2026. CPE plans to accelerate Mammut’s growth in the Asia-Pacific region and North America using its network and capital. CEO Schäfer stated the company sees substantial opportunities to grow the brand internationally while preserving its unique values and heritage.

Competitive bidding and market context

The acquisition was fiercely contested. Chinese sportswear firm Anta Sports was initially considered a frontrunner, alongside multiple international sports giants and consumer-focused private equity funds. CPE ultimately prevailed. The deal comes as part of a broader trend of Chinese capital acquiring established Swiss companies. Completion is expected within the coming months pending customary regulatory approvals and closing conditions.

Mammut’s position in the global outdoor market

Founded in 1862, Mammut is recognized alongside Arc’teryx and Klättermusen as one of the “Big Three” hardcore outdoor gear brands. The company began with high-performance climbing ropes and has expanded into apparel, footwear, and professional equipment. Mammut has built deep user loyalty across European, North American, and Asian markets. The brand’s Swiss heritage and technical reputation remain central to its identity under the new ownership structure.

Final Thoughts

Mammut’s sale to CPE marks the end of Jacobs Capital’s three-year ownership and signals continued Chinese investment in premium European brands. With headquarters and design operations anchored in Switzerland and management unchanged, the deal positions the 164-year-old brand for accelerated growth in Asia while retaining its Swiss identity.

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