(GunReports.com) — ATK (NYSE: ATK) announced Monday that it has completed the acquisition of 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.
“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,” said Mark DeYoung, ATK President and CEO. “ATK is committed to delivering affordable innovation to its customers, and this acquisition offers a great opportunity to expand our world leadership in sporting and security ammunition and accessories into the long guns market.”
Savage’s revenues for the trailing twelve months ended March 31, 2013, were approximately $200 million (unaudited). ATK financed the acquisition with cash on hand and funds available under its existing credit facility.
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. Savage is located in Westfield, Mass. and Lakefield, Ontario, and the workforce includes approximately 600 employees. ATK did not acquire Savage’s BowTech Archery brand.
