Gregory Backpacks Sold to Investment Firm
May 11, 2010 posted by Brent - All Mountain Sports
Filed under Manufacturer News
A Sacramento backpack manufacturer was sold to a Connecticut investment firm today.
Gregory Mountain Products Inc. was sold to Clarus Corp. of Stamford, Conn., for $45 million.
In a companion deal, another outdoor gear maker, Utah’s Black Diamond Equipment, was also sold to Clarus, for $90 million.
According to information provided by Clarus, the Sacramento company sold $27 million worth of backpacks last year.
Clarus’ $45 million payment for Gregory will be half in Clarus common stock and half in an IOU.
It wasn’t immediately clear what will become of Gregory’s 25-employee headquarters in Sacramento. The company moved to Sacramento from Temeculah in 2008 after a management-led buyout.
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