Mammut sold to British company

The well-known Swiss sports and mountain equipment brand is being sold by Zurich-based industrial conglomerate Conzzeta to Telemos Capital, a London-based investment firm.

The two parties have signed a binding agreement, indicated Conzzeta today. The deal, the financial details of which are not disclosed, is scheduled to be completed by mid-year.

«Mammut has accomplished significant milestones in recent decades with its rich history and strong brand,« says Philippe Jacobs, number one of Telemos and also co-chairman of the board of the Zurich-based investment company Jacobs Holding. «We look forward to future opportunities through its premium products and services.»

Mammut is a well-known name in the market: it sells hiking jackets and pants, as well as mountaineering and snow sports equipment. Last year it generated sales of 218 million francs.

The company’s sale comes as no surprise: Conzzeta - a company listed on the Swiss stock exchange - had made it known last year that it would be selling off all of its operations, with the exception of its Bystronic division, which specializes in sheet metal fabrication.