SPRINGFIELD, Mass.,
Aug. 7, 2017 /PRNewswire/
-- American Outdoor Brands Corporation (NASDAQ Global
Select: AOBC), a leading manufacturer of firearms and a provider of
quality accessory products for the shooting, hunting, and rugged
outdoor enthusiast, today announced that its firearms business,
Smith & Wesson Corp., has completed the purchase of
substantially all of the assets of Gemini Technologies,
Incorporated ("Gemtech"), a provider of high quality suppressors
and accessories for the consumer, law enforcement, and military
markets, for $10.0 million, subject
to post closing working capital adjustments and potential earn-out
payments.
The signing of the definitive purchase agreement for the
acquisition was announced on July 5,
2017, and a copy of that announcement is located at:
http://ir.aob.com/phoenix.zhtml?c=90977&p=irol-newsArticle&ID=2285430.
Due to the strict regulatory requirements governing the sale of
suppressors, Smith & Wesson expects the integration and ramp up
of Gemtech products to take place gradually over the balance of its
current fiscal year.
About American Outdoor Brands Corporation
American
Outdoor Brands Corporation (NASDAQ Global Select: AOBC) is a
provider of quality products for shooting, hunting, and rugged
outdoor enthusiasts in the global consumer and professional
markets. The company reports two segments: Firearms and Outdoor
Products & Accessories. Firearms manufactures handgun and
long gun products sold under the Smith & Wesson®, M&P®, and
Thompson/Center Arms™, and Gemtech® brands as well as provides
forging, machining, and precision plastic injection molding
services. Outdoor Products & Accessories provides shooting,
hunting, and outdoor accessories, including reloading, gunsmithing,
and gun cleaning supplies, tree saws, vault accessories, knives,
laser sighting systems, tactical lighting products, and survival
and camping equipment. Brands in Outdoor Products & Accessories
include Smith & Wesson®, M&P®, Thompson/Center Arms™,
Crimson Trace®, Caldwell® Shooting Supplies, Wheeler® Engineering,
Tipton® Gun Cleaning Supplies, Frankford Arsenal® Reloading Tools,
Lockdown® Vault Accessories, Hooyman® Premium Tree Saws, BOG POD®,
Golden Rod® Moisture Control, Schrade®, Old Timer®, Uncle Henry®,
UST™, and Imperial™. For more information on American Outdoor
Brands Corporation, call (844) 363-5386 or log on to www.aob.com.
About Gemtech
Gemtech began as a group of leading
designers with roots in the suppressor business going back to 1976.
Gemtech suppressors are in use with all branches of the U.S.
military and with special operations forces, military, and police
around the world. For more information visit Gemtech at
https://gemtech.com.
Safe Harbor Statement
Certain statements contained in
this press release may be deemed to be forward-looking statements
under federal securities laws, and we intend that such
forward-looking statements be subject to the safe-harbor created
thereby. Such forward-looking statements include the timing
of the integration and ramp up of Gemtech products. We
caution that these statements are qualified by important factors
that could cause actual results to differ materially from those
reflected by such forward-looking statements. Such factors
include the demand for our products; the state of the U.S. economy
in general and the firearm industry in particular; general economic
conditions and consumer spending patterns; the potential for
increased regulation of firearms and firearm-related products;
speculation surrounding fears of terrorism and crime; our
anticipated growth and growth opportunities; our ability to
increase demand for our products in various markets, including
consumer, law enforcement, and military channels, domestically and
internationally; the position of our hunting products in the
consumer discretionary marketplace and distribution channel; our
penetration rates in new and existing markets; our strategies; our
ability to introduce new products; the success of new products; our
ability to expand our markets; our ability to integrate acquired
businesses in a successful manner; the general growth of our
firearm accessories business; the potential for cancellation of
orders from our backlog; and other risks detailed from time to time
in our reports filed with the SEC, including our Annual Report on
Form 10-K for the fiscal year ended April
30, 2017.
Contact: Liz Sharp, VP
Investor Relations
American Outdoor Brands Corporation
(413) 747-6284
lsharp@aob.com
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SOURCE American Outdoor Brands Corporation