Fancy Swedish Helmets Coming to a Ski Slope Near YouBy
Outdoor sporting goods maker Black Diamond announced today that it is buying Swedish helmet company POC for $43.5 million, to be paid in Swedish kronor, and about 460,000 shares of common stock. The price does not include $12.5 million in performance incentives for POC’s management. With the deal, POC becomes the third brand under the Black Diamond umbrella. The company’s namesake brand makes mountain gear ranging from crampons to ski boots to hiking poles. Gregory Mountain Products, which shares a campus with Black Diamond on the east bench of Utah’s Wasatch Range in Salt Lake City, specializes in backpacks. The two combined for $146 million in sales in 2011. POC, whose offices will remain in Stockholm, makes helmets and other protective gear for skiers and cyclists. Black Diamond Chief Executive Officer Peter Metcalf, who will continue to run the company, says privately held POC had sales of $22.5 million last year, up 35 percent from a year earlier.
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