ATK (NYSE: ATK) has completed its purchase of Caliber Company, the parent firm of hunting rifle and shotgun manufacturer Savage Sports Corp., for $315 million cash.
The Arlington, Va.-based aerospace and defense company financed the deal with cash on hand and funds under an existing credit facility, ATK said Monday.
Mark DeYoung, ATK president and CEO, said the company aims for the acquisition to help grow its global footprint in the commercial and security ammunition market.
Al Kasper, Savage president and chief operating officer, said Savage has designed hunting, competitive and recreational firearms for more than a century.
“We’re proud to continue that legacy under the ATK sporting group umbrella, and we know Savage’s products will be a natural complement to ATK’s existing hunting and shooting sports ammunition and accessories business, ” Kasper added.
