Carlyle's Puccini sells Walz to Alteri

The deal saw the GP inject new working capital into the business while undertaking an operational restructuring process for the distressed retail company.

Under Alteri's tenure, Walz will seek to realign its focus towards its core brands.

Holding company Puccini recently sold sportswear retailer Planet Sports to trade buyer 21sportsgroup.

Previous funding
In November 2010, Carlyle created the Puccini Group through its acquisition of a portfolio of six multi-channel retail businesses from Primondo Speciality Group. The firm used its €5.4bn Carlyle Europe Partners III fund to purchase Versandhaus Walz, Planet Sports, Bon'A Parte, Elégance, Mirabeau and 50% of Vertbaudet Germany.

Company
Headquartered in Munich and founded in 1952, the Walz group comprises Baby-Walz, Die Moderne Hausfrau, Walzvital and Mirabeau. Across its brands, the business primarily sells baby products, fashion and homeware.

People
Gavin George is CEO of Alteri. Mike Weccardt is CEO of Walz.

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