ATK has acquired Bushnell Group Holdings, including Uncle Mike's holsters and Hoppe's weapon maintenance supplies, from a New York private equity firm for $985 million, the company announced Thursday.
MidOcean Partners agreed to sell the holding group that includes brands such as Bollé, Butler Creek, Gold Tip, Hoppe's, Primos, Serengeti and Uncle Mike's. Bushnell is a leading vendor of weapon optics, performance eyewear, and outdoor accessories.
The acquisition of Bushnell is expected to close sometime during the fourth quarter of ATK's fiscal year 2014, which ends on March 31. At that time, Bushnell will join other brands in ATK's Sporting Group, including Blackhawk, Alliant Powder, RCBS, Champion, Gunslick Pro, Outers, and Weaver.
"The Bushnell acquisition is consistent with ATK's focus on establishing leadership positions in our core markets," said Mark DeYoung, ATK president and CEO. "This acquisition will broaden our existing capabilities in the commercial shooting sports and expand our portfolio of branded shooting sports products. In addition, this transaction will allow the company to effectively enter new sporting markets in golf, snow skiing and camping."
In June 2013, ATK acquired Savage Sports Corp., which includes Savage Range Systems and its shooting range systems.