Fenix Outdoor International says it has finalized the acquisition of the 40 percent stake it did not previously own in Frilufts, a subsidiary regrouping three outdoor retailers: Globetrotter from Germany, Naturkompaniet in Sweden and Partioaitta in Finland. Fenix already owned 60 percent of Frilufts, which was established after Fenix acquired its majority interest in Globetrotter last year. The remainder was in the hands of the former Globetrotter shareholders. The Swedish group that is formally based in Switzerland warned that it would incur one-off costs of €5 million in the second quarter due to extra measures to raise Frilufts' profitability, and predicted that this segment would contribute a positive operating result from the second half. The Fenix group's retail business suffered an operating loss of €8.3 million in the first quarter, when it started consolidating its share of Globetrotter, against an operating loss of €1.2 million for the same quarter of 2014. The quarterly results and other details are in The Outdoor Industry Compass.

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