Under the terms, Wolfskin will reduce its debt load from €365 million to €110 million and receive a new €25 million loan from its debt providers. Blackstone acquired the outdoor clothing business for a reported €700 million in 2011, a deal that's said to have included €485 million in fresh debt.
Wolfskin will now refocus on its home market, the DACH region, with company CEO Melody Harris-Jensbach saying the company is experiencing 'positive business performance in line with [its] budgets'. However, for this year it expects EBITDA of €32 million, down from €54 million the previous year, per Handelsblatt.
Read more of our coverage on the retail space here.