Clarus To Acquire Black Diamond Equipment And Gregory Mountain Products
STAMFORD, Conn., May 10, 2010 (BUSINESS WIRE) --
-- Acquisitions Will Mark Successful Completion of Clarus Asset Redeployment Strategy --
Clarus Corporation (OTC: CLRS.PK) ("Clarus") announced today that it has
signed definitive merger agreements to acquire, in two separate
transactions, Black Diamond Equipment, Ltd. ("Black Diamond"), a leading
designer and manufacturer of equipment for rock climbers, ice climbers,
alpinists, and freeride skiers, and Gregory Mountain Products, Inc.
("Gregory"), a premier designer and manufacturer of technical
backpacking and related mountaineering products and accessories. The
aggregate purchase consideration, prior to adjustments, for both
acquisitions is approximately $135 million and the transactions have
been unanimously approved by the Board of Directors of Clarus.
The combination of Clarus, Black Diamond, and Gregory (together, the
"Company") intends to serve as a public company platform within the
outdoor equipment and lifestyle markets with opportunities for growth
both organically and through targeted, strategic acquisitions.
via MarketWatch (press release)
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