Hello, Guest!
  • Saturday, April 20, 2024

ATK to Buy Bushnell for $985M Cash; Mark DeYoung Comments

Mark DeYoung
Mark DeYoung

ATK (NYSE: ATK) has agreed to buy outdoor sporting goods maker Bushnell Group Holdings for $985 million cash in a move aimed at expanding ATK’s commercial and security ammunition portfolio.

ATK expects to close the deal within the last two quarters of its 2014 fiscal year and expects the acquisition to increase its earnings per share in the following two fiscal years, ATK said Thursday.

Bushnell Group, which projects $600 million in sales during calendar year 2013, will be integrated into ATK’s Anoka, Minn.-based sporting group after the deal closes.

Mark DeYoung, ATK president and CEO, said the company aims to enter new markets such as golf, snow skiing and camping through the acquisition.

DeYoung added ATK also aims to build on its current commercial shooting sports offerings and expand its portfolio of branded shooting sports products.

Overland Park, Kan.-based Bushnell maintains 19 outdoor brands for sports optics, performance outwear and recreation accessories.

The company holds more than 10, 000 customer accounts and employs 1, 100 workers around the globe.

Video of the Day

Related Articles

Senate Confirms Mara Karlin as DOD Strategy Lead Executive Moves

Senate Confirms Mara Karlin as DOD Strategy Lead

Mara Elizabeth Karlin, principal deputy assistant secretary for international security affairs at the Defense Department, was confirmed by the Senate to serve as DOD’s assistant secretary for strategy, plans and capabilties. Senators approved the nomination by voice vote Monday, following a series of congressional events that took place since the White House announced President Joe

Express Scripts to Manage TRICARE Pharmacy Benefits Under $4.3B DHA Contract News

Express Scripts to Manage TRICARE Pharmacy Benefits Under $4.3B DHA Contract

Express Scripts has secured a potential multi-year $4.3 billion contract to help the Defense Health Agency manage pharmacy benefit-related activities across all 50 states; Washington, D.C; Guam; Puerto Rico; and the Virgin Islands. The company will provide management services in support of the TRICARE Pharmacy Benefit Program, which delivers prescription drugs to beneficiaries through mail

DOD Secretary Lloyd Austin Inks Implementation Plan for Electromagnetic Spectrum Strategy News

DOD Secretary Lloyd Austin Inks Implementation Plan for Electromagnetic Spectrum Strategy

Defense Secretary Lloyd Austin has signed a plan designed to guide the military’s implementation activities aimed at ensuring U.S. electromagnetic spectrum advantage and providing warfighters with “freedom of action” in the EMS. The Department of Defense said Thursday its operations in air, land, maritime, space and cyberspace domains rely on EMS and the 2020 Electromagnetic