Black Diamond Buys Out POC
Climbing giant Black Diamond Inc. is at it again, this time expanding into the world of action sports protective gear. The Utah-based outdoors company announced last week that it had reached a purchase deal with growing gravity sports safety brand POC Sweden AB, worth up to $56.9 million in cash and stock.
Soon POC's snazzy helmets, eyeware and protective body armor and gloves will be part of the Black Diamond line. POC, which is based mainly in the realms of skiing, snowboarding and biking, grew its revenue by 35 percent last year, according to Bloomberg Businessweek.
“POC fits our ultimate vision of bringing together the best and brightest companies in terms of product design, aesthetics [and] culture,” said Peter Metcalf, President and CEO of Black Diamond.
Black Diamond continues to expand from its climbing roots, and is now close to a one-stop shop for multisport adventurers. The company merged with backpack specialist Gregory Mountain Products in May of 2010, and has also begun offering backcountry skiing products and camping equipment.