SPRINGFIELD -- Springfield gun maker Smith & Wesson appear Monday that it will buy its knife-making accomplice Taylor Brands for $85 million.
Founded in 1975 and based in Tennessee, Taylor Brands owns and produces Schrade, Old Timer, Uncle Henry and Imperial branded products. Taylor Brands additionally articles knives and one blazon of alfresco affected ax beneath the Smith & Wesson cast name through a licensing agreement.
Taylor Brands articles its articles in China.
Smith & Wesson told investors beforehand this year that it would try and alter its business by accretion into what it calls accessories -- things like knives, axes, tools, gunsmithing food and camping and outdoors equipment.
In 2014, Smith & Wesson bought Battenfeld Technologies, a agent of gunsmithing food and cutting and hunting accessories, for $130.5 million. Battenfeld was formed into Smith & Wesson's accessories division
James Debney, admiral and CEO of Smith & Wesson, said in a press release:
"Taylor Brands provides us with an ideal befalling to added bear on an important aspect of our cardinal plan, which is to abound our accessories analysis by accretion into adjoining and commutual markets. ...
"Taylor Brands has delivered solid advance as able-bodied as gross margins that are accumbent with those in our absolute accessories division. We accept that these anew added artefact curve will account synergistically from the artefact innovation, administration arrangement and able sourcing archetypal that accept contributed to the success of our accessories analysis beneath the administration of its president, Jim Gianladis.
"Today's advertisement moves us afterpiece to our vision, which is to become the arch provider of affection articles for the shooting, hunting, and asperous alfresco enthusiast."
Morgan Taylor, admiral of Taylor Brands, said:
"We are appreciative that the aggregation my ancestors founded in 1975 has developed to become a arch and awful admired knife and apparatus provider. We attending advanced to accomplishing our abutting akin of advance and continuing to serve our loyal barter as allotment of Smith & Wesson and with the account of Battenfeld Technologies' all-encompassing administration arrangement and artefact development processes."
Taylor Brands had $39 actor in acquirement in the aftermost year.
Smith &
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