ATK [ATK] yesterday said it has completed its $315 million acquisition of Caliber Company, providing it with a line of sporting guns to add to its Sporting Group segment.
Caliber is the parent company of Savage Sports Corp., which had sales of about $200 million for the 12-month period that ended March 31. ATK said when it first announced the deal in May that it expects the acquisition to be accretive to earnings in its current fiscal year (Defense Daily, May 14).
Savage designs and manufactures rifles, shotguns and shooting range systems used for hunting and competitive and recreational target shooting. Savage’s guns are sold under the brand names of Savage Arms, Stevens and Savage Range Systems.
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| Savage Arms’ Long Range Hunter. Photo: ATK |
“Savage has an outstanding reputation in the hunting and shooting sports industry, and we are pleased we can now include Savage as one of ATK’s highly recognized sporting brands,” Mark DeYoung, ATK’s president and CEO, said in a statement.
ATK did not acquire Savage’s BowTech Archery brand.
Caliber was a portfolio company of the private equity firm Norwest Equity Partners.