American Outdoor Brands

Last updated
American Outdoor Brands, Inc.
FormerlyOutdoor Products & Accessories Division of American Outdoor Brands Corp.
Company type Public
Nasdaq:  AOUT
IndustryOutdoor Products & Accessories
FoundedFebruary 18, 1992;32 years ago (1992-02-18) Battenfeld Technologies, Inc.
Headquarters
Columbia, Missouri
,
United States
Area served
Worldwide
Key people
Brian D. Murphy (president & CEO)
ProductsOutdoor Products & Accessories
Website aob.com

American Outdoor Brands, Inc., formerly known as Smith & Wesson Holding Corporation until 2016, is an American manufacturer of outdoor sports and recreation products, with a current 18 brands of outdoor equipment. [1] Until 2020, it owned Smith & Wesson firearms, when American Outdoor Brands was spun out, [2] partly due a changing political climate. [3] Its headquarters is located in Columbia, Missouri.

Contents

History

On May 11, 2001, Saf-T-Hammer Corporation acquired Smith & Wesson Corporation from Tomkins plc for US$15 million. [4] Saf-T-Hammer assumed US$30 million in debt, bringing the total purchase price to US$45 million. [5] [6] Saf-T-Hammer, a manufacturer of firearms locks and other safety products, purchased the company with the intention of incorporating its line of security products into all Smith & Wesson firearms in compliance with the 2000 agreement. On February 15, 2002, the name of the newly formed entity was changed to Smith & Wesson Holding Corporation. [7]

Smith & Wesson Holding Corporation announced in December 2014 that it was paying $130.5 million for Battenfeld Technologies, a Columbia, Missouri-based designer and distributor of hunting and shooting accessories. [8] The company made the acquisition with the eventual intent to merge all its existing Smith & Wesson, M&P and Thompson Center Arms accessories into a single division. [9]

In August 2016, Smith & Wesson Holding Corporation bought Crimson Trace, a laser-sight manufacturer, for $95 million [10] and Taylor Brands, a tool and knife maker, for $85 million. [11] In November of that same year, the company bought UST Brands, a survival equipment maker, for $32.3 million. [12]

The company had diversified from firearms into sporting goods and outdoor gear, the rugged outdoors business being a larger market than firearms, in hopes of insulating Smith & Wesson from the stock price volatility caused by the unpredictability of the gun business. [13] This culminated in the decision to change the company's name, and on November 7, 2016, Smith & Wesson Holding Corporation announced that it would change its name to American Outdoor Brands Corporation. [14] The name change took effect on the first business day of 2017. [15] The change occurred at a time when the firearms industry was receiving backlash over gun violence in America, and so was also seen as an attempt to disassociate itself from the negative repercussions surrounding the issue. [16]

In 2017, firearms accounted for 86% of American Outdoor Brands's revenues, and the company shipped 420,000 long guns. [17] American Outdoor Brands also owns Battenfeld Technologies, [18] Taylor Brands (a knife and tool maker bought in August 2016 for $95 million), and Crimson Trace (an electro-optics business which it bought in August 2016 for $85 million). [19]

On November 13, 2019, American Outdoor Brands Corp. said it would split into two companies: Smith & Wesson Brands, Inc., which would retain gun sales, and American Outdoor Brands, Inc. The transaction was expected to be finalized in the second half of 2020. The company cited changes in political climate and economic, investing and insurance markets. [20]

In January 2020, American Outdoor Brands replaced CEO P. James Debney following allegations of misconduct. The company named Mark Smith and Brian Murphy as joint CEOs. [21]

On 24 August 2020, the company was spun-off from Smith & Wesson, with S&W retaining the original stock ticker SWBI and American Outdoor Brands becoming a new publicly-traded company on the NASDAQ as American Outdoor Brands, Inc. [2]

On March 11, 2022, American Outdoor Brands announced that it entered into an agreement to purchase grill brand Grilla Grills. [22]

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References

  1. ↑ "American Outdoor Brands". aob.com.
  2. 1 2 "American Outdoor Brands, Inc. Completes Spin-off from Smith & Wesson". August 25, 2020. Retrieved April 26, 2021.
  3. ↑ Lea, Brittany De (2019-11-13). "Smith & Wesson, American Outdoor Brands to split amid 'significant changes' in political climate". FOXBusiness. Retrieved 2020-10-05.
  4. ↑ Sweeney, Patrick (December 13, 2004). The Gun Digest Book of Smith & Wesson. Iola, Wisconsin: Gun Digest Books. p. 22. ISBN   0-87349-792-9.
  5. ↑ MCM staff (May 16, 2001). "Smith & Wesson Sold". Multichannel merchant. Archived from the original on September 28, 2007. Retrieved November 10, 2015.
  6. ↑ Wagner, Eileen Brill (May 14, 2001). "Saf-T-Hammer buys Smith & Wesson". Phoenix Business Journal . Retrieved November 11, 2015.
  7. ↑ Smith & Wesson Holding Corporation (July 29, 2002). "Form 10-KSB". sec.gov. U.S. Securities and Exchange Commission. p. 2. Retrieved August 20, 2015.
  8. ↑ "Smith & Wesson to Buy Firearm Accessories Firm Battenfeld". finance.yahoo.com. 27 November 2014. Retrieved 2022-10-14.
  9. ↑ Stice, Alicia (December 6, 2014). "Smith & Wesson buys Battenfeld Technologies". Columbia Daily Tribune . Columbia, Missouri. Retrieved December 6, 2014.
  10. ↑ "BRIEF-Smith & Wesson Holding to acquire Crimson Trace Corp for $95.0 mln". Reuters. 2016-07-25. Retrieved 2022-10-14.
  11. ↑ Robertson, Scott. "Smith & Wesson purchases Taylor Brands for $85 million". bjournal.com. Retrieved 2022-10-14.
  12. ↑ Corporation, Smith & Wesson Holding. "Smith & Wesson's Battenfeld Technologies to Acquire UST Brands". www.prnewswire.com (Press release). Retrieved 2021-02-02.
  13. ↑ Fuscaldo, Donna (14 December 2016). "Don't Bring Your Guns to Town: Smith & Wesson to Change Name (SWHC)". Investopedia. Retrieved 12 March 2018.
  14. ↑ Handley, Lucy (December 13, 2016). "Gun maker Smith & Wesson to change name to American Outdoor Brands Corp". CNBC. Archived from the original on December 16, 2016. Retrieved January 1, 2017.
  15. ↑ "American Outdoor Brands Corporation Completes Holding Company Name Change and Commences Trading Under NASDAQ Symbol "SWBI"" (Press release). American Outdoor Brands Corporation. January 3, 2017. Retrieved February 14, 2017.
  16. ↑ Duprey, Rich. "Why Smith & Wesson Changed to American Outdoor Brands". The Motley Fool. Retrieved 2018-02-16.
  17. ↑ "Where Do All The Assault Rifles Come From?". Priceonomics. 29 March 2018. Retrieved 3 April 2018.
  18. ↑ "American Outdoor Brands". aob.com.
  19. ↑ CNBC, Lucy Handley, special to (December 13, 2016). "Gun maker Smith & Wesson to change name to American Outdoor Brands Corp". CNBC.{{cite web}}: CS1 maint: multiple names: authors list (link)
  20. ↑ Cameron, Doug (14 November 2019). "Smith & Wesson Parent Plans Split". Wall Street Journal. Retrieved 2019-11-14.
  21. ↑ Siegel, Rachel (January 16, 2020). "CEO of Smith & Wesson owner out after misconduct allegations". The Washington Post . Retrieved 2020-02-28.
  22. ↑ "American Outdoor Brands to Acquire Grilla Grills". CookOut News. 2022-03-11. Retrieved 2022-03-23.
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