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.
ATK (Alliant Techsystems Inc.), already a giant conglomerate, may soon get even bigger. Reuters reports that ATK “is in advanced talks to buy Bushnell Outdoor Products Inc. in a deal that could value the gun accessory maker at around $1 billion[.]” In addition to scopes, Bushnell makes rangefinders, binoculars, GPS units. Bushnell sells a myriad of other products for outdoorsmen through its brands Butler Creek, Hoppe’s, Millett, Night Optics, Primos, Simmons, Stoney Point, Tasco and Uncle Mike’s.
According to Reuter’s sources, ATK is engaged in high-level negotiations with MidOcean Partners, a holding company that currently controls Bushnell. Reuters cautioned that “a deal has not yet been finalized and negotiations could still fall apart”.
If the Bushnell deal goes through, this will be the second major acquisition for ATK in the past few months. In May 2013, ATK paid $315 million for Caliber Company, the parent company of Savage Sports Corporation which runs Savage Arms and Stevens. Savage is being integrated into ATK’s Sporting Group business which includes Federal Premium, Alliant Powder, CCI, RCBS, Speer, Weaver Optics, Champion Targets, and other outdoor sports brands.
ATK is also a major defense contractor, producing ammunition, weapons systems, aerospace products and much more. Currently valued at $3.1 Billion, ATK has been a top performer on Wall Street recently. ATK shares have more than doubled in the past 12 months, outpacing most stocks, even in a rapidly rising overall market. ATK shares were trading at $97.53 today, compared to $47.24 one year ago.
Bushnell was founded in 1948. The company makes scopes, binoculars, GPS units, laser rangefinders, GameCams, eyewear, and other outdoor gear. Bushnell is the parent of many other outdoor product brands, including: Bollé, Butler Creek, Final Approach, Hoppe’s, Millett, Night Optics, Primos, Serengeti, Simmons, Stoney Point, Tasco, and Uncle Mike’s. Last year the Bushnell group of companies had $100 million in earnings before taxes, interest, and depreciation.
ATK announced that it will pay $315 million to acquire Caliber Company, the parent company of Savage Sports Corporation which runs Savage Arms, and Stevens. Savage will be integrated into ATK’s Sporting Group business which includes Federal Premium, Alliant Powder, CCI, RCBS, Speer, Champion Targets, and other outdoor sports brands.
The acquisition of Savage by ATK will expand ATK’s portfolio offering by adding a respected producer of long guns to its family of leading brands in the shooting and outdoor sports industries. ATK anticipates closing the transaction in the first quarter of its Fiscal Year 2014, which ends June 30, 2013.
ATK (NYSE: ATK) announced it has entered into an agreement to acquire Caliber Company, the parent company of Savage Sports Corporation (Savage). Savage is one of the world’s largest manufacturers of hunting rifles and shotguns, delivering innovative products for more than 100 years. The acquisition would expand ATK’s portfolio offering by adding long guns to its leading brands in commercial and security ammunition, shooting sports and security-related accessories. The transaction is subject to regulatory approvals and customary closing conditions. ATK anticipates closing the transaction in the first quarter of its Fiscal Year 2014 (FY14), which ends June 30, 2013.
Under the terms of the transaction, ATK will pay $315 million in cash, subject to a customary working capital adjustment. This represents a trailing twelve months ended March 31, 2013 EBITDA multiple of approximately 5.5 times (unaudited). ATK believes the acquisition will be accretive to FY14 earnings per share. ATK will finance the acquisition with cash on hand and funds available under its existing credit facility.
“The acquisition will complement ATK’s growing portfolio of leading consumer brands,” said Mark DeYoung, ATK President and CEO. “This opportunity will allow us to build upon our offerings with Savage’s prominent, respected brands known for accuracy, quality, innovation, value and craftsmanship. Savage’s sales distribution channels, new product development, and sophistication in manufacturing will significantly increase our presence with a highly relevant product offering to distributors, retailers and consumers.”
Operating under the brand names of Savage Arms, Stevens, and Savage Range Systems, the company designs, manufactures and markets centerfire and rimfire rifles, shotguns and shooting range systems used for hunting as well as competitive and recreational target shooting. The company was organized in 1894 by Arthur Savage and has expanded into market-leading positions. Savage is located in Westfield, Mass. and Lakefield, Ontario, and employs approximately 600 skilled employees.
“Savage offers customers a unique value proposition that is unmatched by any other firearms manufacturer and will be a tremendous complement to ATK’s existing ammunition and shooting accessories portfolio,” said Al Kasper, Savage President and Chief Operating Officer.
ATK will integrate Savage within its Sporting Group business. ATK’s Sporting Group is the established leader in sporting and law enforcement ammunition and shooting accessories. ATK’s ammunition brands include Federal Premium, CCI, Fusion, Speer, Estate Cartridge and Blazer. ATK’s accessories brands include BLACKHAWK!, Alliant Power, RCBS, Champion targets and shooting equipment, Gunslick Pro and Outers gun-care products, and Weaver optics and mounting systems.
Caliber Company has been a portfolio company of Norwest Equity Partners (NEP), a leading middle market equity investment firm, since January 2012. NEP is headquartered in Minneapolis, Minn.
ATK is an aerospace, defense, and commercial products company with approximately 15,000 employees and operations in 21 states, Puerto Rico, and internationally. ATK is headquartered in Arlington, Va. News and information can be found on the Internet at www.atk.com, on Facebook at www.facebook.com/atk, or on Twitter @ATK.
Here’s a great promotion if you need an affordable target scope or variable-power hunting scope. Weaver Optics is now offering substantial rebates on Weaver T-Series target scopes and V-Series hunting scopes (16-power and above). With this offer you can get $75.00 back on a 24X or 36X T-Series target scope, or $50.00 off a Classic V-Series varmint scope. In addition, there are $25.00 rebates on Kaspa and 40/44 scopes and Weaver “Classic” Binoculars.
The Weaver T-Series 36x40mm scope remains a popular and reliable benchrest scope that is still found on many top competitors’ rifles. The T-24, 24-power scope is popular with rimfire shooters as well as many “paper punchers” who don’t need 36X magnification. Since both scopes share a 40mm objective, the 24X version has a larger exit pupil, which makes head position less critical. Both 24X and 36X T-Series scopes have front-adjusting objectives for parallax control.
RCBS rolled out some handy new products at SHOT Show 2012. The first item will be welcomed by AR and Service Rifle shooters who reload inexpensive military .223 Rem (5.56×45) and .308 Win (7.62×51) brass. RCBS now has a Primer Pocket Swager Bench Tool that removes military primer pocket crimps quickly and easily. Watch the video and you can see how effortlessly it does the job in just seconds. A hardened steel rod supports the case from the inside allowing the case to float for perfect alignment with the swager head. The RCBS Swager comes complete wtih hardened steel small and large swaging heads and rods to accommodate cases 22-caliber and larger.
We think the RCBS Swager certainly rivals Dillon’s Super Swage 600 which performs the same task. The Dillon employs a vertical (up/down) lever, while the new RCBS Swager uses a horizontal lever arm, with a nice cushioned handle. MSRP on the RCBS Swager is $106.00 compared to $100.95 for the Dillon Super Swage. Either tool will pay for itself by allowing you to reload inexpensive milsurp brass.
RCBS Adds Universal Shell-Holder to Trim Pro
RCBS has also updated its popular Trim Pro® case trimmer with the addition of a spring-loaded universal shell holder. This has spring-loaded jaws that can hold anything from a 17 Fireball case up to the large magnums. No more fiddling around with cartridge-specific shell-holders — you just snap your cases (of any size) in and out of the spring-loaded jaws. The system works well and the jaws hold cases securely during the trimming process. Again, watch the video to see the system in action.
Pistol Bullet-Feeder Kit
Last but not least, RCBS has released an inexpensive, gravity-fed bullet feeding system. Much cheaper and simpler than a motor-driven feeder, this system, which combines a tube with a special die, reliably drops pistol bullets, one by one, as you operate your progressive press. Importantly, this manual bullet-feeder works with jacketed, plated, cast or swaged lead bullets. (Some other bullet feeders cannot handle lead bullets). This device should be a major time-saver for those who load a lot of pistol rounds.
This Editor was sufficiently impressed with the gravity-fed bullet feeder that I ordered one for my own RCBS Pro 2000 Progressive. Note, however, the RCBS feeders work on Dillon and Hornady presses also — these Bullet Feeder Kits are designed to be used with ANY 7/8″-14 threaded progressive press. Each clear tube holds 20-25 bullets depending on weight and profile. Two bullet tubes are included with each unit. Extra bullet tubes sold separately. MSRP is just $36.00.
RCBS 2012 Rebate — $10 Off $50.00 Order
RCBS has a “Get Green” Rebate Offer that runs through December 31, 2012. When you purchase $50.00 of any RCBS product, you qualify for a $10.00 mail-in rebate. Then, earn a bonus $5.00 mail-in rebate when you purchase one of the following: 5 sleeves of Federal Premium or CCI primers, 1 pound of Alliant Powder, 1 box of Speer Bullets, 1 bag of Federal Premium brass. There is also a $50.00 Rebate on a purchase of $300.00 worth of RCBS Products.
When Alliant’s Reloder 17 was introduced, it represented a real break-though in propellant technology. In some cartridges, Reloder 17 delivered significantly more velocity than any other propellant on the market. The secret was a new method of impregnating the powder kernels with burn-controlling compounds. This delayed the initial pressure spike, allowing a longer, more constant powder burn. This effectively delivered more energy over the powder’s full burn cycle, and the extra energy produced higher velocities than could be attained with conventional powders. READ Reloder 17 test report.
New Reloder 33 Delivers More Speed in Big Magnums
Now Alliant is introducing a new powder, Reloder 33, that uses the same kernel-impregnation technology first pioneered in Reloder 17. Alliant Reloder 33 is a new powder created by Rheinmetall Nitrochemie in Switzerland (Nitrochemie also makes Reloder 17). Like Reloder 17, Alliant’s new Reloder 33 powder employs a proprietary process by which the powder kernels are impregnated with burn-rate controlling elements. This delays the peak pressure spike and smooths out the pressure curve. Effectively, this allows the powder to deliver energy at a more constant rate, producing more overall velocity for the bullet — as much as 150 fps more than with any other powder. Reloder 33 was designed for the .338 Lapua Magnum but it is suitable for other large magnums and ultra-magnums.
In this video, Allliant’s Dick Quesenberry explains the properties of Reloder 33, noting that it should “raise the bar” of velocity for the .338 Lapua Magnum and other ultra-magnums. Outstanding velocities have been achieved in initial tests with the .338 LM. This has attracted the interest of the U.S. Military, which has already placed orders for Reloder 33 in bulk. Reloder 33 should hit the consumer market in mid-April to mid-May, the actual release date depending on DOT transport certification. Expect vendors to have the new powder in stock by the end of May, if not sooner.
Power Pro 1000 for High-Volume Reloaders
In addition to Reloder 33, Alliant is introducing Power Pro 1000. This is a new spherical (ball) powder with a burn rate similar to Alliant 10X. Power Pro 1000 is designs for varmint shooters and .223 Rem shooters who load large quantities of ammo on progressive presses. Power Pro 1000 meters exceptionally well through progressive press powder measures, and it should provide good load density in cartridges such as the .223 Remington. Alliant hopes to release Power Pro 1000 in early- to mid-April.
Following on the success of its 2011 Rebate Program (which expires at the end of December, 2011), RCBS is launching a new GET GREEN Promotion for 2012. This offers cash rebates to buyers of RCBS reloading products. Additional “bonus bucks” are offered if you buy components from RCBS’s sister companies: Federal, Alliant, CCI, Speer. Here’s how it works. If you buy $50.00 worth of RCBS reloading gear, you get $10.00 cash back. Then you can get an extra $5.00 rebate if you buy one of the following: a pound of Alliant Powder, a box of Speer Bullets, a box of Federal Premium Brass, OR five 100-ct sleeves of Federal or CCI primers. Likewise, if you buy $300.00 worth of RCBS products you can get a $50.00 rebate with an additional $25.00 in bonus bucks if you buy FIVE qualifying items from Alliant, CCI, and/or Federal.
The new GET GREEN Promotion starts January 1, 2012. Purchases must be made before December 31, 2012 and rebate coupon (with proof of purchase) must be received by January 31, 2013. To qualify, you must submit a rebate coupon PLUS box UPCs and original cash register receipts. Offer good in U.S. and Canada only. Please allow 6-8 weeks for delivery. Redemption limited to one of each offer per household. For more information, call RCBS at 866-269-5194, or write to: RCBS PROMOTION, Dept. 7634, PO Box 5011, Stacy, MN 55078-5011.
Alliant is introducing a new extruded powder, AR-Comp. AR-Comp is an advanced re-formulation of Reloder 15, a double-base Bofors powder. There are changes to internal and external chemistry to provide much better pressure/velocity stability across a wide range of temperatures. The main difference between AR-Comp and Reloder 15, is the AR-Comp has a slightly faster burn rate, and AR-Comp is much LESS Sensitive to temperature changes. AR-Comp is a small-kernel, double-base extruded powder like Reloder 15, so it will continue to meter just like Reloder 15. The load density should be the same as Reloder 15.
AR-Comp should be at Grafs.com in a Couple Weeks
Here’s the good news — Alliant will start shipping AR-Comp to Grafs.com later this week. Dick Quesenberry, Alliant Powder Product Manager, told us: “I just received the AR-Comp packaging labels and we hope to send off the first shipments to Grafs this week.” With transit time, expect the powder to be available from Grafs.com by the second week of June. You can go ahead and place advance orders for 1-lb and 8-lb containers of AR-Comp on the Grafs.com website.
AR-Comp Offers Uniform Velocities over a Wide Temp Range
Tests were done with .223 Rem and .308 Win ammo, loaded with AR-Comp and maintained at temps from -20° F to +160° F in a controlled test center. The ammo itself was heated or cooled to targeted temps before testing. Across that entire range of temperature, -20° F to +160° F, the ammo loaded with AR-Comp showed a variation of only 20 fps in muzzle velocity. The primary bullet type tested was a 77gr .224 bullet and the secondary was a 175gr .308 bullet.
Burn Rate Like Varget
Though this is a reformulation of Reloder 15, the burn rate of AR-Comp is slightly faster than Reloder 15. Alliant told us: “Reloder 15 is slightly slower, in burn rate, than Varget. The new AR-Comp, with the enhancements, ended up slightly faster than Reloder 15, so it is now very close to Varget in burn rate”. This is the result of the “tuning” of the powder to be much less temp-sensitive.
AR-Comp First in Series of New Alliant Temp-Stable Powders
AR-Comp will be the first in a series of “new generation” temp-stable powders from Alliant. Quesenberry noted: “Our goal was to provide a powder that offers stable pressures in all temperatures. Shooters want to be able to stay with the same load in winter and in summer, in cold or in hot conditions.” Quesenberry added: “We’ve been working on this quite a while. AR-Comp is the first example and we hope to extend this to other rifle powders. It’s a tough job. You have to balance the performance carefully. We worked very hard to do just that and we think shooters will be impressed with the results.”
Reloder 15 Will Stay in Production
Fans of Alliant’s Reloder 15 don’t need to worry. Alliant will keep Reloder 15 in production. “We don’t drop powder lines”, said Quesenberry.
ATK has received orders from the U.S. Army for nearly 300 million rounds of the new M855A1 Enhanced Performance Round (EPR). The EPR is an enhanced version of the M855 5.56mm cartridge, used by U.S. troops since the early 1980s. ATK also announced it has received additional orders worth $10 million for nonstandard ammunition (NSA) in support of its current NSA multi-year contract with the U.S. Army Contracting Command in Rock Island, Ill. The three-year contract calls for ATK to acquire and deliver a broad range of NSA, or non-NATO ammunition [such as 7.62×39], to Kabul, Afghanistan, to train and sustain allied security forces.
The military sought to replace current M855 ammo because M855 has not performed optimally in the Afghan theater. The Army’s Picatinny Arsenal claims that the new M855A1 has improved hard target capability, more consistent performance at all distances, improved accuracy, reduced muzzle flash, and higher velocity. M855A1 ammo is tailored for use in M4 carbines but should also give enhanced performance in M16s and M249s.
New Steel-Tip Bullet Design
The 62-grain bullet for the new M855A1 ammo is a completely new design. While it may appear to have a plastic “ballistic tip”, that’s deceiving. The new bullet created for M855A1 ammo has a bismuth-tin alloy core with a steel “stacked-cone” penetrating tip. The photo at right shows the version from last year; the final production version may be slightly different (e.g. the final version tip is a different color). Apparently the latest bullet design is a winner. During testing, M855A1 ammo performed better than current 7.62mm ball ammunition against certain types of targets. According to Lt. Col. Jeffrey K. Woods, the program’s product manager, the new M855A1 ammo is “the best general purpose 5.56mm round ever produced. A true general purpose round, the M855A1 exceeds the performance of the current M855 against the many different types of targets likely to be encountered in combat.”
Two ammunition manufacturers in Lewiston, Idaho, plan to add “significant numbers of workers” this year and next. Alliant Techsystems (ATK), parent of CCI, Alliant Powder, RCBS and other companies, expects to add about 100 jobs by the end of 2010, and Extreme Bullet plans to expand its facility and add about 100 jobs over the next few years. ATK’s employee ranks will grow to approximately 1,200 workers by the end of this year.
ATK will be re-hiring many workers laid off in a 2009 force reduction. According to the Spokane Journal of Business, “The new hires should give ATK a total of about 1,200 workers by the end of 2010 at its plant on the east side of the Snake River.” The Journal also interviewed ATK Spokesman Jason Nash who explained: “We’ve definitely had a few good years at the plant there. There’s been an increased demand for sporting ammunition, which has allowed us to add to our employment base.”
Speer Brothers Brought Ammo Production to Lewiston
Here is an interesting historical footnote. Today’s large ATK operation in Idaho can be traced back to the companies founded by the Speer brothers. After settling in Lewiston in 1944, Vernon Speer started Speer Bullets. A few years later, in 1951, Vernon’s brother Dick (with partner Arvid Nelson) started Cascade Cartridges Inc., a producer of small-arms ammunition and primers. Yes, as you may suspect, Cascade Cartridges Inc. is now CCI, part of ATK’s family of companies, and one of the largest manufacturers of primers and loaded ammunition. Today, ATK’s Lewiston plant produces both Speer bullets and CCI-branded ammunition and primers. ATK acquired the plant in 2001. Vernon Speer died in 1979, and Dick Speer died in 1994.
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.
ATK announced that it will pay $315 million to acquire Caliber Company, the parent company of Savage Sports Corporation which runs Savage Arms, and Stevens. Savage will be integrated into ATK’s Sporting Group business which includes Federal Premium, Alliant Powder, CCI, RCBS, Speer, Champion Targets, and other outdoor sports brands. 
Pistol Bullet-Feeder Kit
New Reloder 33 Delivers More Speed in Big Magnums
Alliant is introducing a new extruded powder, AR-Comp. AR-Comp is an advanced re-formulation of Reloder 15, a double-base Bofors powder. There are changes to internal and external chemistry to provide much better pressure/velocity stability across a wide range of temperatures. The main difference between AR-Comp and Reloder 15, is the AR-Comp has a slightly faster burn rate, and AR-Comp is much LESS Sensitive to temperature changes. AR-Comp is a small-kernel, double-base extruded powder like Reloder 15, so it will continue to meter just like Reloder 15. The load density should be the same as Reloder 15.
New Steel-Tip Bullet Design
Two ammunition manufacturers in Lewiston, Idaho, plan to add “significant numbers of workers” this year and next. 
