New milestone for Black Diamond

“This will cement Black Diamond’s leadership in the international backpack market,” says Larsen. “This certainly holds promise for Black Diamond in SA”. Financial investment company Clarus Corporation signed two merger transactions to acquire Black Diamond Equipment Ltd and Gregory Mountain Products Inc. for $135-m (about R 1. 02-bn). Pending stockholder approval, the new public company will be known as Black Diamond Equipment. Black Diamond is a global leader in the design and manufacturing of climbing and freeride skiing equipment and Gregory focuses on the design and manufacture of technical backpacking and related mountaineering products and accessories. Peter Metcalf, co-founder, president and CEO of Black Diamond will be appointed president, director and CEO of the newly formed public company and the rest of the executive team at Black Diamond will continue in their roles. Gregory’s owners, Warren Kanders and Robert Schiller, will be executive chairman and executive vice-chairman and director respectively. The transaction is expected to be approved and closed during the second quarter of this year.