Smith & Wesson has just announced that it acquired Massachusetts-based Savage Arms Inc. for $160 million from JDH Holdings. According to the press release from Smith and Wesson released today, the $160 payment consists of a combination of cash and stock.
“The acquisition of Savage is transformative for Smith & Wesson and contributes to our objective of becoming the undisputed market leader in the firearm industry,” said Mark Smith, President and Chief Executive Officer of Smith & Wesson Brands, Inc. “With this transaction, we have significantly expanded our presence in the hunting category, particularly in bolt-action rifles, which will enable us to better serve our customers. We are excited to combine Savage's expertise and scale in the hunting category with our proven capabilities in the handgun and semi-auto rifle markets. We believe our teams' core competencies will complement one another, translating into a stronger combined business”.
Combining Smith and Wesson’s existing presence in the handgun, revolver and semi-auto rifle market with Savages foothold in the long-gun, shotgun, suppressor and hunting markets, results in a full array of product offerings via a single company. With the acquisition complete, Smith & Wesson Brands, Inc. adds to its family a reported $160 of net sales and a workforce of approximately 500 employees from Savage Arms, Inc., instantly earning the title of the largest commercial firearms manufacturer in the U.S.
According to the press release, Smith & Wesson and Savage already share many of the same distributors, dealers, and retail partners which presents “immediate go-to-market efficiency and unmatched scale,” so there is hope that the transition will be as seamless as possible and will not result in any decrease of available Savage products on store shelves.
The press release went on to state: “Few combinations in this industry carry the historical weight of this one. Smith & Wesson was founded in 1852 in Massachusetts; Savage Arms was founded in 1894, also in Massachusetts. Both companies have spent well over a century as fixtures of American manufacturing, innovation, and craftsmanship – arming hunters, sportsmen, and protectors across multiple generations. This is more than a financial transaction; it's the union of two authentically American manufacturing stories, grounded in the same values of quality, durability, and performance that built this industry in the first place.”
For more information, visit smith-wesson.com.
