Callaway Golf Company is buying Jack Wolfskin for €418m (£372m).
The deal is expected to close in the first quarter of 2019.
The US brand said it would integrate Jack Wolfskin as an outdoor brand into its portfolio of premium active lifestyle businesses and invest in the brand for the long term.
Chip Brewer, president and chief executive of Callaway Golf, said: “Jack Wolfskin is a premium outdoor brand with tremendous international reach, being a leading brand in the European market and having a substantial presence in China. It also helps Callaway to expand its presence in the high-growth active lifestyle category.”
Jack Wolfskin’s largest current shareholders are affiliates of Bain Capital Credit, HIG Bayside Capital CQS, Avenue Capital Group and BlueMountain Capital Management, which together own more than 67% of Jack Wolfskin.
In its most recent financial year, Jack Wolfskin generated sales of €334m (£297m) and increased its adjusted EBITDA by almost one-fifth to approximately €42.1m (£37.5m)
Callaway Golf is the number one golf brand in the US.