BGS Acquisition Corp. Enters Into A Definitive Agreement To Acquire Black Diamond Holdings

BGS Acquisition Corp.

("BGS" or the "Company") announced today that on June 26, 2013 it entered into a definitive agreement to complete a business combination with Black Diamond Holdings LLC ("Black Diamond"). BGS plans to acquire Black Diamond in an all-stock transaction which values Black Diamond at an equity value of $400,000,000. The Company will file a form 6-K with the Securities and Exchange Commission providing additional information regarding the transaction this week. Pursuant to the Company's Amended and Restated Articles of Association, the execution of the definitive agreement affords the Company a three month extension for completion of the business combination until September 26, 2013. C&Co/PrinceRidge LLC acted as exclusive financial advisor to BGS, while Duane Morris LLP acted as BGS' transaction counsel, and Ogier acted as BGS' British Virgin Islands counsel. Messner Reeves LLP acted as Black Diamond's counsel.