Blackstone is acquiring the complete stake of Jack Wolfskin from Barclays Private Equity and Quadriga Capital, Financial Times reports. The buyer will pay a total of around €700 million for the acquisition of the German outdoor clothing company.

As part of the deal, co-founder and CEO of Jack Wolfskin Manfred Hell will leave the board, while Andreas Klotz has been hired as CFO. Barclays and Quadriga bought their stake in Jack Wolfskin in 2005 by paying €93 million, including debt.

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