Black Diamond has announced the acquisition of POC Sweden AB (POC), a Stockholm based producer and distributor of protective gear for action sports. POC has received multiple prestigious industry awards, among them the Grand Prize for Active Safety in the Volvo ISPO Sports Design Award competition. Black Diamond will purchase POC for approximately $43.5 million, and will deliver 460,000 shares of BDE common stock and $40 million in cash at closing. POC founder and CEO, Stefan Ytterborn, commented: “Given POC’s mission to save lives and reduce the consequences of accidents for gravity sports athletes, partnering with a highly capable and energetic company like Black Diamond greatly enhances our ability to better serve our worldwide community of users. In Black Diamond we have truly found our match in terms of ‘hearts and brains.’ We are excited to join forces as one company, bringing together extraordinary talent and commitment to excellence, along with our deeply shared values and purpose.”
