Alliant Techsystems to buy rifle and shotgun maker Savage Sports

  • Article by: JOHN EWOLDT , Star Tribune
  • Updated: May 13, 2013 - 8:51 PM

Alliant Techsystems Inc. said Monday that it has agreed to acquire a 119-year-old manufacturer of hunting rifles and shotguns for $315 million in cash.

Savage Sports Corp. and parent Caliber Co. have been owned since 2012 by the Minneapolis-based private equity firm Norwest Equity Partners.

The acquisition of Caliber and Savage will be Alliant’s first launch into the manufacturing of hunting rifles and shotguns, spokeswoman Amanda Covington said. Alliant, based in Arlington, Va., has focused on accessories and ammunition in its ATK Sporting Group headquarters in Anoka.

Savage has 600 employees in Westfield, Mass., and Lakefield, Ontario.

“The acquisition will complement ATK’s growing portfolio of leading consumer brands,” said Mark De­Young, Alliant’s CEO.

ATK Sporting Group’s brands include Federal Premium and Estate Cartridge ammunition, Champion clay targets and Outers gun-care products used by law enforcement, the military and sport shooters.

Savage Sports manufactures centerfire and rimfire rifles, shotguns and shooting range systems for hunting as well as competitive and recreational target shooting.

Savage’s firearms are known for accuracy and innovation at a fair price, company spokesman Bill Dermody said in a news release.

Norwest Equity Partners declined to comment on the reasons for the sale until it is final. Revenue for the company was not disclosed by Norwest, but Howard Rubel, an aerospace and defense equity analyst at the Jefferies Group investment firm, ­estimated it at about $200 million.

Rubel said that the acquisition came about because of price and quality. “It’s a highly regarded, long-standing name that is well-recognized by thoughtful gun buyers,” he said.

The deal is expected to close on or before June 30.

Alliant, formed in 1990 as a Honeywell spinoff and previously based in Edina, has about 2,400 of its 15,000 employees in Minnesota.

The Sporting Group division, which employs about 1,500 people in Anoka and 2,500 in several other states, does not expect any changes in the near future, although no personnel decisions have been made, Covington said.

 

John Ewoldt • 612-673-7633

  • get related content delivered to your inbox

  • manage my email subscriptions

Click here to send us your hunting or fishing photos – and to see what others are showing off from around the region.

ADVERTISEMENT

Baltimore 2 FINAL
Detroit 15
NY Yankees 5 FINAL
Philadelphia 5
Northeastern 1 FINAL
Boston 2
Miami-Fla 1 FINAL
Miami 7
Pittsburgh 8 FINAL
Toronto 7
San Francisco 4 FINAL
Oakland 9
Cleveland 0 FINAL
Cincinnati 10
Boston College 0 FINAL
Boston 1
Arizona State 0 FINAL
Arizona 4
Boston 79 FINAL
Cleveland 110
LA Lakers 103 FINAL
Charlotte 104
Sacramento 124 FINAL
New York 86
Houston 96 FINAL
Atlanta 104
Utah 93 FINAL
Memphis 82
Washington 92 FINAL
Chicago 97
Milwaukee 95 FINAL
Denver 106
Nashville 1 FINAL
New Jersey 3
Calgary 3 FINAL(OT)
Philadelphia 2
Washington 5 FINAL
Columbus 3
Buffalo 0 FINAL
Tampa Bay 3
Toronto 3 FINAL
Florida 2
Ottawa 2 FINAL(SO)
Minnesota 3
NY Islanders 2 FINAL(OT)
Dallas 3
Anaheim 4 FINAL
Arizona 1
Los Angeles 5 FINAL
Edmonton 2
San Jose 6 FINAL
Vancouver 2
Ole Miss 82 FINAL
Alabama 74
Eastern Mich 67 FINAL
Ball State 60
Kent State 81 FINAL
Bowling Green 80
Ohio 66 FINAL
Buffalo 93
Georgetown 60 FINAL
Butler 54
Toledo 77 FINAL
Central Mich 85
Rhode Island 59 FINAL
Dayton 75
Youngstown St 67 FINAL
Detroit 77
North Carolina 81 FINAL
Georgia Tech 49
Loyola-Maryland 45 FINAL
Holy Cross 62
Iowa 77 FINAL
Indiana 63
Akron 63 FINAL
Miami-Ohio 70
Army 52 FINAL
Navy 56
Maryland 60 FINAL
Rutgers 50
Kennesaw St 54 FINAL
USC Upstate 90
Jacksonville 63 FINAL
Fla Gulf Coast 81
Lipscomb 76 FINAL
Northern Ky 73
Stetson 67 FINAL
North Florida 81
Wright State 57 FINAL
Ill-Chicago 60
Western Mich 63 FINAL
Northern Ill 65
Nebraska Omaha 80 FINAL
North Dakota 78
Houston Baptist 71 FINAL
Abilene Christian 83
NC State 66 FINAL
Clemson 61
Texas A&M 62 FINAL
Florida 66
Kentucky 72 FINAL
Georgia 64
West Virginia 69 FINAL
Kansas 76
Auburn 61 FINAL
Missouri 63
Michigan 78 FINAL
Northwestern 82
Villanova 76 FINAL
Creighton 72
Longwood 55 FINAL
Gardner-Webb 63
Charleston Southern 39 FINAL
Presbyterian 47
Coastal Carolina 54 FINAL
UNC-Asheville 68
NJIT 51 FINAL
UMass Lowell 60
West Virginia 55 FINAL
Kansas State 59
TCU 45 FINAL
Texas 79
Fresno State 61 FINAL
Air Force 41
San Jose St 76 FINAL
Boise State 91
Nevada 61 FINAL
Colorado State 68
UNLV 61 FINAL
San Diego State 76
Wyoming 61 FINAL
Utah State 57
Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

question of the day

Poll: Should the lake where the albino muskie was caught remain a mystery?

Weekly Question

ADVERTISEMENT

 
Close