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MA – INDUSTRY INSIDER – Savage Arms bought by management-led investors for $170 million; company employs about 300 in Westfield

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]

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