Eyewear firm Bushnell bags Americal Capital investment
22 Aug '05
4 min read
"The acquisition of Michaels provides Bushnell further product diversification, additional brands with leading market positions in the hunting and shooting sports segment, and increased penetration in key distribution channels. Further, both companies have a history of successful acquisition and integration," said American Capital Vice President Brian Marshall.
Kansas based Bushnell was founded by David Bushnell in 1948 as a provider of high-quality, affordably priced sport optics to specialized retailers. It offers a wide range of products, including binoculars, sunglasses, riflescopes, telescopes, laser rangefinders, night vision scopes, safety goggles and ski goggles, under its leading Bushnell, Bollé, Serengeti and Tasco brand names.
Bushnell sells to an international base of more than 10,000 customers across multiple distribution channels including mass merchants, optical chains, sporting goods stores, catalog retailers and specialty optical retailers. Key customers include Wal-Mart, Cabela's, Gander Mountain, Bass Pro Shops, Dick's Sporting Goods and The Sports Authority.
The acquisition of Michaels of Oregon broadens the Bushnell product offering in the hunting, shooting sports and law enforcement markets with the addition of the well-respected Uncle Mike's, Hoppe's, Butler Creek, Stoney Point, and Blackwater Gear brands. The combined company will employ more than 600 people.
"They are pleased to be working again with American Capital. They quickly understood investment thesis and provided the certainty and speed of closing, which was critical to executing this transaction successfully," said Wind Point Managing Director Rich Kracum. "This transaction enables us to continue to augment Bushnell's position in the sporting goods and outdoor equipment markets and to take advantage of several tangible growth opportunities."
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