Home / Knowledge / News / Apparel/Garments / Black Diamond completes asset sale of Gregory Mountain
Black Diamond completes asset sale of Gregory Mountain
24
Jul '14
Black Diamond, Inc., a leading global supplier of innovative active outdoor performance equipment and apparel, has completed the asset sale of its Gregory Mountain Products, LLC ("Gregory") brand for $84.1 million to Samsonite LLC.
 
The divestiture represents an integral part of Black Diamond's plan to focus on its core brands, including POC and Black Diamond apparel. Black Diamond has used a portion of the proceeds from the sale to pay down its debt with Zions Bank 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 fall," said Peter Metcalf, president and CEO of Black Diamond. "We believe that we are now positioned for enhanced growth from our core and fastest-growing brands."
 
The Company has realized net proceeds of approximately $68.4 million after fees, expenses and taxes. The Company previously had approximately $26.7 million of outstanding debt under its credit facility with Zions Bank as of March 31, 2014, which was paid-off in full with the closing of the transaction.
 
The Company plans to provide revised second half and full year guidance when it reports its second quarter results in August 2014.
 
Rothschild served as financial advisors and Kane Kessler, P.C. served as legal advisors to Black Diamond for the divestiture.
 
 

Black Diamond


Must ReadView All

Apparel/Garments | On 30th Apr 2016

Britain keen on new ventures in textiles and garment

British High Commissioner to India Sir Dominic Asquith, has said that ...

Apparel/Garments | On 30th Apr 2016

‘India’s apparel sector needs to revisit policies’

Apparel Export Promotion Council (AEPC)’s Additional Secretary...

Textiles | On 30th Apr 2016

Bangladesh spinners wary of another gas price hike

Bangladeshi cotton spinners have expressed concern that they may lose ...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

How do you see the competition from e-stores? What is the marketing...

Mr. Subhash Bhargava
Colorant Limited

What is the current scenario for colorants and specialty chemicals in...

Sachin Arora
Myntra

How prevalent are engagement practices in the Indian corporate houses? Can ...

Larry L Kinn
Suominen Corporation

<b><i>Larry L Kinn, Senior Vice President - Operations Americas of...

Dr. Rene Wollert
Freudenberg Nonwovens

<i><b>Dr. Rene Wollert</b> discusses the current scenario of the global...

Dr. Razvan Popescu
Bozzetto Group

Dr. Razvan Popescu is the Business Unit Head of the Textile Chemicals...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search