Overland Park, Kan. – Bushnell Outdoor Products, a worldwide leader in sports optics, premium eyewear, and outdoor accessories, and MidOcean Partners, a leading middle market private equity fund, announced today that Bushnell has entered into a definitive agreement to be acquired by ATK (NYSE: ATK) of Arlington, Va. The companies expect to complete the transaction during the third or fourth quarter of ATK’s fiscal year 2014.
Founded in 1948 by Dave Bushnell, the company has been an outdoor industry leader for 65 years. Headquartered in Overland Park, Kan., Bushnell employs approximately 1,100 skilled workers globally. With a strong track record of product development and innovation, Bushnell has established more than 10,000 customer accounts in more than 90 countries worldwide. In addition to strong organic growth, Bushnell and MidOcean have made a number of strategic acquisitions that have created a broad portfolio of high-quality and innovative products targeted to the outdoor and sports enthusiast. In addition to the iconic Bushnell brand, the portfolio includes other well-established brands such as Bollé, Butler Creek, Gold Tip, Hoppe’s, Primos, Serengeti and Uncle Mike’s.
“I am very proud of what the Bushnell team has accomplished during our time with MidOcean Partners. The passion we have for our brands, products and the enthusiasts we serve has allowed us to build one of the strongest consumer products portfolios in the outdoor industry. The opportunity to join ATK will give us the chance to take that passionate pursuit to the next level,” said Blake Lipham, Bushnell Outdoor Products president and CEO.
Integrated into ATK’s Sporting Group, Bushnell will complement a sporting goods accessories portfolio that includes BLACKHAWK!, Alliant Powder, RCBS, Champion, Gunslick Pro, Outers, and Weaver.
“The Bushnell acquisition is consistent with ATK’s focus on establishing leadership positions in our core markets,” said Mark DeYoung, ATK president and CEO. “This acquisition will broaden our existing capabilities in the commercial shooting sports and expand our portfolio of branded shooting sports products. In addition, this transaction will allow the company to effectively enter new sporting markets in golf, snow skiing and camping. ATK will leverage Bushnell’s strong sourcing, marketing, branding and distribution capabilities and capitalize on Bushnell’s track record of successfully integrating acquisitions and delivering profitable growth.”
Bushnell Outdoor Products is a global manufacturer and marketer of branded consumer products. Headquartered in Overland Park, Kansas, the company sells its products worldwide under the Bushnell®, Bee Stinger, Butler Creek®, Final Approach®, Gold Tip, Hoppe's®, Millett®, Night Optics, Primos®, Simmons®, Stoney Point®, Tasco®,Uncle Mike's®, Uncle Mike's Law Enforcement®, and the following eyewear brands: Bollé®, Cébé® and Serengeti®. For information about any of these brands or products, please contact Bushnell Public Relations at (913) 752-6105.
MidOcean Partners is a premier private equity firm focused on the middle market. MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth. MidOcean utilizes a broad foundation of expertise in its focus industries to create value for its investors and partners. For more information about MidOcean Partners, please visit www.midoceanpartners.com.
ATK is an aerospace, defense, and commercial products company with approximately 14,000 employees and operations in 21 states, Puerto Rico, and internationally. ATK is headquartered in Arlington, Va. ATK’s Sporting Group is headquartered in Anoka, Minn. News and information can be found on the Internet at www.atk.com, on Facebook at www.facebook.com/atk, or on Twitter @ATK.