Blackstone Group Acquires Outdoor Clothing Brand Jack&Nbsp; Wolfskin
Germany Outdoor
Jack Wolfskin said,
Jack Wolfskin mainly focuses on the fast-growing outdoor sportswear market, and sportswear giants including Adidas have always hoped to enter this market in many countries, including Russia. Jack Wolfskin has achieved strong growth in China, mainly engaged in sports equipment such as jackets, backpacks, tents and hiking shoes. At present, the company has shifted its focus to Eastern Europe, Scandinavia and other countries.
The two sides did not disclose the detailed terms of the transaction, but insiders said that the transaction price might be around 700 million euros (994 million dollars). Blackstone Group said that it has been in contact with several candidates with "international vision and experience" and may announce a new CEO candidate within a few weeks
Blackstone said that the acquisition of Jack Wolfskin would be completed within August.
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