Luggage company Samsonite LLC is paying $85 million for Gregory Mountain Products LLC.

Gregory, headquartered in Salt Lake City, Utah, supplies outdoor performance equipment and apparel, specializing in backpacks. For the year ended Dec. 31, the company's revenue increased to $34.9 million from $30.6 million the year before.

Samsonite says the brand complements the High Sierra product line, which also makes backpacks, and broadens the company's exposure to the outdoor category. The Hong Kong-based company makes luggage, business and computer bags, outdoor and casual bags, and travel accessories under the Samsonite, American Tourister, High Sierra, Hartmann, Lipault and Speck brand names. Samsonite financed the deal through internal resources and its revolving credit facility. The company has increased the revolving credit facility from $300 million to $500 million as it continues to evaluate other potential acquisitions.

Gregory is being sold by Salt Lake City-based Black Diamond Inc. (Nasdaq: BDE). Black Diamond says the sale is part of a plan to focus on its fastest-growing brands. The seller will use part of the proceeds to repay about $26.7 million in debt, and reinvest the rest of the proceeds into developing outdoor performance brands Black Diamond and POC.

Samsonite has made several acquisitions lately, including Speck Products, which makes protective cases for personal electronic devices, in May. Samsonite bought the brand from private equity firm VMG Partners for $85 million. In April, the company agreed to buy Lipault, a French luggage brand, for about $27 million.

Rothschild is acting as Black Diamond's financial adviser, while Kane Kessler PC is providing legal advice on the deal.

Other recent consumer goods deals include Palladin Consumer Retail Partners LLC's purchase of footwear group Aerosoles in June, and BRG Sports Inc.'s purchase of sporting goods company C-Preme Ltd. in May. 

For more, see "Outdoor Performance Poised to Take Off." 

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