Black Diamond buys POC for over $56 million!

trabec

Pretty much every photo we've run of Seb Kemp in the last year or so (the number is nearing ten) he's been wearing a POC Trabec helmet. The helmet in question has a bit of a love/hate following with the MTB fashion police; no one sits on the fence. Problem is they aren't available here, at all. There's some Aussie snow distributor who claims to sell them here, but I'm yet to see a shop that has stock. Anyhow that may change. As of a few days ago (it happened while I was in Aussie) the climbing company Black Diamond purchased POC for—wait for it—NZD$56,474,727!

That's some serious Krona! In the press release they talk about increased distribution channels so hopefully for us that means that Southern Approach/Black Diamond pick it up here sooner rather than later. You've also gotta hope that your local New Zealand bike shop is actually prepared to take a risk on something new and a little different. On the whole they don't seem to have the best track record.

We'll let you know as soon as we know more. You see at Spoke we're in the love camp!

Black Diamond, Inc. has an ambitious strategy combining organic growth, adding new businesses as well as acquiring "best in class" entities, sharing the sincere passion of innovation and excellence. Black Diamond Equipment Ltd. went public in 2010 in its combination with Gregory Mountain Products and Clarus Corporation.POC Sweden AB was founded on a strong mission to seek to do everything possible to save lives and reduce the consequences of accidents for gravity sports athletes by developing and continually renewing what personal protection is all about.

Under the terms of the definitive agreement, Black Diamond will purchase POC for approximately 311,000,000 Swedish SEK, including 460,000 shares of BDE common stock, payable at closing, plus an additional 90,000,000 SEK payable in a series of significant, long-term, performance-based incentives payable to management and structured as compensation with multiple measurement and payment dates over a six and a half year period.

POC Founder and CEO Stefan Ytterborn explains, "POC has had a fantastic journey since its first season in 05/06, growing fast in all major markets. To match our size and future needs, we needed to balance a demanding situation with a partner who inherently understood POC’s culture, aesthetic and mission. We had a handful of interesting proposals but it wasn't until Black Diamond came along and I got to visit their Salt Lake City, Utah, operations that I believed that POC and Black Diamond are the perfect match.”

For its fiscal year ended April 30, 2012, POC’s unaudited total revenues were 148,387,000 SEK an increase of approximately 34.7% over the prior year, in spite of a warm and dry winter globally. POC will continue to be located in Stockholm and be operated as a separate and discreet subsidiary of Black Diamond, Inc.

Ytterborn continues, “Black Diamond’s sincere perspective on users, product innovation, quality, safety and stubborn approach to simply be better aligns ideally with POC. Upon return to Stockholm, I shared my view with colleagues and the Board of Directors and 10 months later, we're signing the agreement. Besides the cultural tangents, there are numerous assets at Black Diamond that are expected to yield more efficient sourcing, manufacturing, logistics, sales and distribution that is expected to allow POC to accelerate even faster.”

About POC Sweden AB POC Sweden AB was founded on a strong mission to seek to do everything possible to save lives and reduce the consequences of accidents for gravity sports athletes by developing and continually renewing what personal protection is all about. In many ways, POC believes it has set a new standard when it comes to technical solutions, construction, material combinations and engineering, with patented solutions to increase its athletes’ degree of protection. POC’s line of products is sold in 27 countries worldwide and includes helmets, body armor, goggles, eyewear, gloves and apparel. POC also has a concept store in Chamonix, France. For additional information, please visit www.pocsports.com

About Black Diamond, Inc. Black Diamond, Inc. is a global leader in the design, manufacturing and marketing of innovative active outdoor performance products for climbing, mountaineering, backpacking, skiing and other active outdoor recreation activities for a wide range of year-round use. Black Diamond’s principal brands, Black Diamond® and Gregory™, are iconic in the active outdoor industry and linked intrinsically with the modern history of these sports. Black Diamond is synonymous with performance, innovation, durability and safety that the climbing, mountaineering, skiing and backpacking communities rely on and embrace in their active lifestyle. Headquartered in Salt Lake City at the base of the Wasatch Mountains, Black Diamond’s products are created and tested on some of the best alpine peaks, crags and trails in the world. These close connections to the Black Diamond lifestyle enhance the authenticity of Black Diamond’s brands, inspire product innovation and strengthen customer loyalty. Black Diamond’s products are sold by leading specialty retailers in the U.S. and 50 countries around the world. For additional information, please visit Black Diamond’s websites at www.blackdiamond-inc.com, www.blackdiamondequipment.com or www.gregorypacks.com