ATK Acquires Bushnell Group Holdings for $985 Million

It’s official — ATK is acquiring Bushnell — for a whopping $985 million. ATK (Alliant Techsystems) has executed a definitive agreement to acquire Bushnell Group Holdings, Inc., a leading maker of branded sports optics, outdoor accessories, and eyewear. In addition to rifle scopes, Bushnell makes rangefinders, binoculars, spotting scopes, GPS units, sunglasses, and more. Bushnell sells a myriad of other products for outdoorsmen through its brands Simmons, Tasco, Millet, Butler Creek, Bollé, Serengeti, Hoppe’s, Night Optics, Primos, Stoney Point, Hoppe’s, and Uncle Mike’s.

Under the terms of the transaction, ATK will pay $985 million in cash, subject to customary post-closing adjustments. Bushnell’s projected sales for calendar 2013 are approximately $600 million. ATK will finance the acquisition through a combination of $900 million of secured financing, borrowings under its existing revolving credit facility, and cash on hand. The transaction is subject to regulatory approvals and customary closing conditions. ATK anticipates closing the transaction in the third or fourth quarter of its Fiscal Year 2014.

Mark DeYoung, ATK President and CEO states: “This [Bushnell] 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.”

Bushnell markets 19 outdoor brands in sports optics, outdoor accessories and performance eyewear, including the Bushnell brand and other notable brands such as Primos, Bollé, Hoppe’s, Uncle Mike’s, Butler Creek, and Serengeti. Founded in 1948, Bushnell is headquartered in Overland Park, Kansas and employs approximately 1,100 workers worldwide.

Bushnell Will Become Part of ATK’s Sporting Group of Companies
ATK will integrate Bushnell into its Sporting Group within its existing accessories business. ATK Sporting Group’s ammunition brands include Federal Premium, CCI, Fusion, Speer, Estate Cartridge and Blazer. ATK’s accessories brands include Alliant Powder, RCBS, Weaver Optics, BLACKHAWK!, Champion, Outers, and Gunslick Pro. In June 2013, ATK acquired Savage Sports Corporation, adding centerfire and rimfire rifles, shotguns and shooting range systems used for hunting, competitive and recreational shooting to its product offering.

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Tags: Alliant Techsystems, ATK, Bushnell, Hoppes, Optics, Scopes, Stoney Point, Tasco, Weaver Optics