Black Diamond Equipment has announced that it is to sell Gregory Mountain Products for $85 million. The backpack and travel gear brand is going to Samsonite. Gregory booked sales of $34.9 million last year compared with $30.6 million in 2012. Black Diamond said that it would use the money to pay back debts and to invest in its fast growing brands which comprise basically the Black Diamond core business and POC. Samsonite already markets outdoor-oriented products under the High Sierra brand.