World renowned firearms manufacturer Smith & Wesson continued to shake up both the company and the firearms industry recently with the announcement they are in the process of changing their name. The iconic company name was a result of efforts by Horace Smith & D.B. Wesson in the middle 1850’s and spawned a legendary name and lines of firearms that have served police and military units in the United States and around the world for more than 100 years. Smith & Wesson is an American icon the same way Sturm Ruger and Winchester were. The name and company will not be disbanded or sold off, instead it will be a division known as Smith & Wesson Firearms as the “old” company rebrands itself to American Outdoor Brands Corp. This name apparently has won over company shareholders who overwhelmingly voted to agree to the name change and corporate shake up, according to a released statement.
The move follows the recent shake up trend within the company, as we recently announced Smith & Wesson recently purchased grip manufacturer Crimson Trace and tool maker Taylor brands for 95 million and 85 million respectively. The company says that the name change and recent acquisitions continues the board of directors long term vision of diversifying company holdings to protect it against stock market volatility. In more Smith & Wesson related news that we somehow missed the company also in November finalized the purchase of Jacksonville, Florida based UST Brands for $32 million dollars. UST Brands is a smaller sized company and maker of survival and outdoor style equipment.
The rate at which Smith & Wesson is acquiring companies is shocking some industry insiders. Many in the firearms industry are openly questioning the motives of the Smith & Wesson board of directors and wondering how exactly the company has managed to pull off three deals in four months that drew $212 million out of the company piggy bank. It will be interesting to see if these moves by an industry giant like Smith & Wesson will have an effect on it’s competitors.
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