Investors led by Savage Arms CEO and President Al Kasper purchased the gun manufacturer from sporting goods conglomerate Vista Outdoor for $170 million earlier this month. Savage, which employs about 300 workers at its Westfield factory and headquarters, is one of the city’s largest private employers. Savage also has a rifle factory in Ontario, Canada. The buyers paid $158 million at closing and will pay $12 million at the maturity of a five-year seller note, according to a news release from Vista. “Savage is an extremely strong brand and in a great position to keep charging forward,” the new ownership group wrote in a letter to customers. “The momentum gained under Vista Outdoor will propel us for future success. It is business as usual and Savage is excited to continue building on existing relationships within the firearms industry. Rest assured, the focus on our exciting future and continuing to drive our brand forward has never been stronger. We are excited to continue this journey with you, our trusted partners, by our side.” [full article]
The gun safety group Giffords will launch a nationwide effort next week aimed at
Bob Rogers is the Editor and Publisher of GunPro Plus, America’s premier daily digital gun news portal. After a successful 20-year career as the Editor for a major magazine in the gun industry, Bob launched GunPro Plus to bring his industry expertise on gun news into the digital realm.
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