Smith & Wesson announced Wednesday the acquisition of iconic American hunting firearm manufacturer Savage Arms.
\n\nMarket Watch noted, “Savage Arms has been producing firearms since 1894 and is one of the world’s largest manufacturers of hunting, competition and target-shooting centerfire and rimfire rifles and shotguns.”
\n\nSmith & Wesson acquired Savage Arms for $160 million.
\n\nThe transaction combines two iconic American firearm manufacturers with leading capabilities across distinct segments of the firearms market. Savage’s strength in hunting and bolt-action rifles is highly complementary to Smith & Wesson’s leadership position in handguns and growing presence across other long gun categories, creating a broader product portfolio across a wide range of shooting disciplines.
\n\nSmith & Wesson president and CEO Mark Smith commented on the acquisition, describing it as “a transformative step for Smith & Wesson and an important milestone in our strategy to be the undisputed market leader in the firearm industry.”
\n\nSavage’s brand heritage, culture, and longstanding reputation for performance and innovation align closely with our own, and the business meaningfully expands our presence in the hunting category. By bringing these two companies together, we have created a broader, stronger platform with significant opportunities to better serve our customers, accelerate innovation, realize…
Original source: https://www.breitbart.com/sports/
