Mestral
November 26th, 2019, 4:09 PM
https://www.bizjournals.com/boston/news/2019/11/13/smith-wesson-parent-company-splits-in-two.html
Smith & Wesson changed its name to American Outdoor Brands (Nasdaq: AOBC) in 2016 as part of a diversification push — the opposite corporate strategy from the one announced Wednesday.
Smith & Wesson has has 1,600 employees at its Springfield manufacturing plant.
Smith & Wesson Brands Inc., based in Springfield, will encompass the firearms business, and American Outdoor Brands Inc., based in Boone County, Missouri, will include the outdoor products and accessories businesses, which sell everything from pocketknives to saws and gun cleaning supplies.
Corporate spokeswoman Liz Sharp didn’t respond to emailed questions Wednesday.
“There have been significant changes in the political climate as well as the economic, investing, and insurance markets since we embarked upon what we believe have been our very successful diversification efforts,” said Barry M. Monheit, chairman of the board, in a news release. “We believe that separating into two independent public companies will allow each company to better align its strategic objectives with its capital allocation priorities.”
Smith & Wesson changed its name to American Outdoor Brands (Nasdaq: AOBC) in 2016 as part of a diversification push — the opposite corporate strategy from the one announced Wednesday.
Smith & Wesson has has 1,600 employees at its Springfield manufacturing plant.
Smith & Wesson Brands Inc., based in Springfield, will encompass the firearms business, and American Outdoor Brands Inc., based in Boone County, Missouri, will include the outdoor products and accessories businesses, which sell everything from pocketknives to saws and gun cleaning supplies.
Corporate spokeswoman Liz Sharp didn’t respond to emailed questions Wednesday.
“There have been significant changes in the political climate as well as the economic, investing, and insurance markets since we embarked upon what we believe have been our very successful diversification efforts,” said Barry M. Monheit, chairman of the board, in a news release. “We believe that separating into two independent public companies will allow each company to better align its strategic objectives with its capital allocation priorities.”