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Alliant Techsystems Agrees to Buy Rifles and Shotgun Maker for $315 Million

 
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Old 05-14-2013, 05:04 PM
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Alliant Techsystems Agrees to Buy Rifles and Shotgun Maker for $315 Million

ATK (NYSE: ATK) announced it has entered into an agreement to acquire Caliber Company, the parent company of Savage Sports Corporation. Savage is one of the world's largest manufacturers of hunting rifles and shotguns, delivering innovative products for more than 100 years. The acquisition would expand ATK's portfolio offering by adding long guns to its leading brands in commercial and security ammunition, shooting sports and security-related accessories. The transaction is subject to regulatory approvals and customary closing conditions. ATK anticipates closing the transaction in the first quarter of its Fiscal Year 2014 (FY14), which ends June 30, 2013.

"The acquisition will complement ATK's growing portfolio of leading consumer brands," said Mark DeYoung, ATK President and CEO. "This opportunity will allow us to build upon our offerings with Savage's prominent, respected brands known for accuracy, quality, innovation, value and craftsmanship. Savage's sales distribution channels, new product development, and sophistication in manufacturing will significantly increase our presence with a highly relevant product offering to distributors, retailers and consumers."

Operating under the brand names of Savage Arms, Stevens, and Savage Range Systems, the company designs, manufactures and markets centerfire and rimfire rifles, shotguns and shooting range systems used for hunting as well as competitive and recreational target shooting. The company was organized in 1894 by Arthur Savage and has expanded into market-leading positions. Savage is located in Westfield, Mass. and Lakefield, Ontario, and employs approximately 600 skilled employees.

"Savage offers customers a unique value proposition that is unmatched by any other firearms manufacturer and will be a tremendous complement to ATK's existing ammunition and shooting accessories portfolio," said Al Kasper, Savage President and Chief Operating Officer.

ATK will integrate Savage within its Sporting Group business. ATK's Sporting Group is the established leader in sporting and law enforcement ammunition and shooting accessories. ATK's ammunition brands include Federal Premium, CCI, Fusion, Speer, Estate Cartridge and Blazer. ATK's accessories brands include BLACKHAWK!, Alliant Power, RCBS, Champion targets and shooting equipment, Gunslick Pro and Outers gun-care products, and Weaver optics and mounting systems.
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Old 05-14-2013, 05:06 PM
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Re: Alliant Techsystems Agrees to Buy Rifles and Shotgun Maker for $315 Million

wow I had no idea all of those company's were owned by the same people.
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Old 05-14-2013, 06:21 PM
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Re: Alliant Techsystems Agrees to Buy Rifles and Shotgun Maker for $315 Million

I sure hope they keep the quality up at savage. Savage has been making some really accurate rifles for the past few years and it would be tragic to see them go the way Remington has.
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Old 05-15-2013, 07:46 AM
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Re: Alliant Techsystems Agrees to Buy Rifles and Shotgun Maker for $315 Million

I think they own Safariland and H&K as well, along with several armour companies.
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Old 05-15-2013, 11:40 AM
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Re: Alliant Techsystems Agrees to Buy Rifles and Shotgun Maker for $315 Million

I was corrected. they don't own H&K or Safariland.
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Old 05-16-2013, 01:18 PM
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Re: Alliant Techsystems Agrees to Buy Rifles and Shotgun Maker for $315 Million

Back in the 80's a company named Bangor Punta bought Smith&Wesson. Quality went down the tubes. I hope this won't happen to Savage. Sometimes buyouts work and sometimes they don't.
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Old 05-16-2013, 01:28 PM
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Re: Alliant Techsystems Agrees to Buy Rifles and Shotgun Maker for $315 Million

It's my view that when a large investment group buys a company they usually go profit margins over quality and customer service. If a founder or a person with a personal attachment to the product is not in charge it will go down hill with respect to the product. Investors and professional management are there for the money not the product and service long term relationship.
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