ATK [ATK] yesterday said it has completed its $985 million acquisition of Bushnell Group Holdings, further expanding its array of product offerings within its sporting business.
Bushnell, which previously was owned by the private equity firm MidOcean Partners, sells hunting and sports optics, performance eyewear, and outdoor accessories.
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| Bushnell Elite Tactical LRS Rifle Scope. Photo: ATK |
Bushnell is expected to have $600 million in sales this year. ATK expects the deal to be dilutive to its earnings per share in FY ’14 and then accretive to earnings beginning in FY ’15.
“ATK is committed to expanding our product offerings, strengthening leadership positions in our core markets, maintaining a strong balance sheet and delivering long-term, profitable growth,” Mark DeYoung, ATK’s president and CEO, said in a statement. “Completing the Bushnell acquisition, plus our first quarter acquisition of Savage Sports Corporation, positions ATK with a comprehensive product offering of ammunition, sporting arms and accessories in our existing markets as well as creates an opportunity to expand into new and adjacent outdoor recreation markets.”
Bushnell will be integrated into ATK’s Sporting Group, which will now account for 45 percent of the company’s total revenue. ATK said that with the deal complete, commercial and international sales will account for about 50 percent of total revenue.