ATK completes $985 million cash deal for Bushnell Group
- November 4, 2013
Arlington-based Alliant Techsystems Inc. (ATK) has completed its $985 million cash acquisition of sports optics and outdoor accessories company Bushnell Group Holdings Inc.
Kansas-based Bushnell, which expects sales to reach $600 million this year, will become part of ATK’s Anoka, Minn.-based sporting group. Bushnell had been owned by MidOcean Partners, a private equity firm.
The Bushnell deal follows ATK’s first-quarter acquisition of Savage Sports Corp., helping to diversify a company primarily known as a defense and aerospace contractor.
ATK is one of the world’s largest producers of ammunition.
"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.
Young said the acquisitions of Bushnell and Savage Sports "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."
ATK said Bushnell increases the company's exposure to higher-growth hunting and outdoor lifestyle markets. With the addition of Bushnell, the sporting group will account for approximately 45 percent of total ATK revenue.
Bushnell has more than 10,000 customer accounts in more than 90 countries worldwide. The company has a portfolio of 19 outdoor brands in sports optics, outdoor accessories and performance eyewear, including Bushnell, Primos, Bolle, Hoppe's, Uncle Mike's, Butler Creek and Serengeti.
Founded in 1948, Bushnell is based in Overland Park, Kan. and employs approximately 1,100 skilled workers around the globe.
ATK has approximately 16,000 employees and operations in 22 states, Puerto Rico and internationally.