ATK buys sporting and hunting gun manufacturer

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Arlington-based ATK announced Monday that it has entered into an agreement to purchase a hunting rifles and shotgun manufacturer for $315 million.

ATK has agreed to acquire Caliber Co., the parent company of Savage Sports Corp., which manufactures centerfire and rimfire rifles, shotguns and shooting range systems used for hunting as well as competitive and recreational target shooting.

The acquisition will add long guns to ATK’s brands in commercial and security ammunition, shooting sports and security-related accessories.

The agreement, subject to regulatory approvals and closing conditions, is expected to close in the first quarter of ATK’s fiscal year, which ends June 30.

The acquisition will be funded with cash and funds from ATK’s existing credit facility.

ATK will integrate Savage within its Sporting Group business.

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