By  on July 21, 2011

The Blackstone Group said Thursday ithas acquired German outdoor retailer Jack Wolfskin.

Terms of the deal were not disclosed, although sources said Blackstone paid 700 million euros, or $1 billion at current exchange. The transaction is expected to close in August.

“We have seen consistent growth in the outdoor market, and Jack Wolfskin has played a leading role in this. Management at Jack Wolfskin has proven its ability to build a strong brand, and we look forward to supporting further growth throughout Germany and internationally,” said Dr. Axel Herberg, senior managing director at Blackstone.


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