Maryville, Tennessee-based Smith & Wesson announced today that it has acquired Savage Arms from JDH Holdings in a $160 million stock-and-cash transaction.
The move brings the 132-year-old Massachusetts-based Savage Arms, known best for its accurate and innovative rifles and shotguns, squarely under the umbrella of the even more senior 174-year-old S&W. For its part, Smith & Wesson already has a healthy catalog of modern pistols, revolvers, lever guns, suppressors, and modern sporting rifles.
Smith & Wesson stated the acquisition “creates a compelling platform to generate sustainable, long-term growth” in its press release announcing the move.
“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 CEO 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.”
It’s hard to overstate the monumental nature of this acquisition.
Along with combining more than 300 years of collective American firearms manufacturing history, the collective power of the Smith & Wesson and Savage Arms brands now represents the single largest commercial gunmaker in the United States.
Savage’s annual net sales hit roughly $160 million, with a skilled workforce of approximately 500 employees. Both companies already use the same dealers, distributors, and big-box retailers, a fact that should help both American-made brands maintain a relatively streamlined delivery process for customers.
We’ve actually toured both Savage Arms’ and Smith & Wesson’s manufacturing facilities, and that makes us even more excited to see what the combined brands can offer customers in the future.