US: Black Diamond completes Gregory Mountain sale
Outdoor equipment and apparel business Black Diamond has completed the sale of its Gregory Mountain Products brand for US$84.1m to Samsonite.
The divestiture was made as part of Black Diamond's plans to focus on its core brands, including POC and Black Diamond apparel.
It has used a portion of the proceeds from the sale to pay down debt and plans to reinvest the remainder to support the continued growth and long-term development of its core brands.
"Closing the sale of Gregory marks a critical point in our strategic pivot initiated last autumn," said Black Diamond CEO Peter Metcalf. "We believe that we are now positioned for enhanced growth from our core and fastest-growing brands."
- Where next for 3D design and prototyping?
- What Marks & Spencer's numbers mean for clothing
- Balance essential in garment supply chain
- Apparel buyers miss out on commodity cost savings
- Tanzania adds to Africa’s apparel sourcing mix
- Brandix named PVH ‘Global Supplier of the Year’
- Earthquake damage at Bangladesh garment factories
- Ascena Retail to buy Ann Taylor owner for $2bn
- China and India to exploit trade relationship
- AGOA delays drag on sourcing decisions