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."
- Under Armour defends questions over strategy
- Cheap polyester contributes to cotton import shift
- TPP trade pact in milestone signing by 12 nations
- Combating the new normal – 10 trends for 2016
- Who has pledged to ban the use of angora?
- Bangladesh factory fire renews worker safety fears
- Syrian refugee children found in Turkish factories
- China factory activity continues to deteriorate
- Key Bangladesh safety issues still not fixed
- H&M and Primark price rivalry reaches equilibrium
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Wearable technology: The future market potential for smart garments and e-textiles
- Global market review of denim and jeanswear – forecasts to 2021
- Wearable Technology Market by Product, Application, Type, & Geography - Global Forecast to 2020
- E-Textiles: Electronic Textiles 2014-2024