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."
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