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Conzzeta: Strategic transformation completed - Conzzeta reaches agreement to divest Mammut
Conzzeta / Key word(s): Disposal
26-Apr-2021 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
Strategic transformation completed
Conzzeta reaches agreement to divest Mammut
Zurich, April 26, 2021 - Conzzeta reports the signing of a binding agreement to divest its Mammut business unit to Telemos Capital, London, UK. Telemos Capital was founded and is chaired by Philippe Jacobs, who is also Co-Chairman of Jacobs Holding AG, Zurich, Switzerland. The closing of the transaction is expected by mid-2021, subject to regulatory approval.
Swiss holding company Conzzeta announced that it had reached an agreement to sell Mammut to financial investor Telemos Capital.
In December 2019, Conzzeta said it had decided to explore sales offers for Mammut after determining the company’s future focus would be on its Bystronic business unit.
“I am extremely proud of our entire team and our development over recent years. Today’s announcement is great news,” said CEO of Mammut Sports Group, Oliver Pabst. “Steered by our purpose ‘To Create a World Moved by Mountains’, we’re looking forward to working with Telemos and with our partners to continue expanding the leading position of Mammut Swiss 1862 as a premium brand in existing as well as new markets, and to impress with sustainable, innovative and digital product solutions.”