Outdoor products maker Black Diamond Inc. said it has signed an agreement to acquire POC Sweden for approximately $43.5 million.
Founded in 2004, the Stockholm-based company is a designer and manufacturer of protective gear for action-sports athletes.
"We believe POC is one of the most innovative, fastest-growing and hottest brands in action sports protective gear today and a strong strategic addition to the Black Diamond platform," Peter Metcal, president and CEO of Salt Lake City-based Black Diamond, said in a statement announcing the acquisition.
He noted that for its fiscal year ended April 30, POC’s unaudited revenues were approximately $22.5 million, an increase of some 35 percent over the prior year "in spite of a warm and dry winter globally."
The transaction is expected to close this month, with the acquisition expected to contribute to Black Diamond’s earnings in 2013.
POC’s products, which are sold in 27 countries, include helmets, body armor, goggles, eyewear, gloves and apparel.
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