Madison, NC – Freedom Group, Inc. through a wholly owned subsidiary has entered into a purchase agreement to acquire certain assets of Barnes Bullets. The transaction closed on December 31, 2009.
Barnes Bullets, located in Mona, Utah, is the industry-leading supplier of copper bullets, including copper-tin composite core bullets. These products are used by hunters, shooters, military and law enforcement professionals around the world. With their innovative designs, advanced manufacturing techniques and core focus on the end-user, Barnes Bullets has been a leading choice of commercial consumers, law enforcement and military users since its inception in 1932.
Barnes Bullets will continue day-to-day operations at their Mona, Utah-based location under the guidance of company founder, Randy Brooks.
"We welcome Randy and his team to the Freedom Group family,” commented Ted Torbeck, CEO of the Freedom Group, Inc. “With the acquisition of Barnes; the Freedom Group continues to demonstrate our commitment to the ammunition business. Barnes offers a premium line of high performance bullets for the hunting and shooting communities; and for law enforcement, military and commercial consumers around the world. We are excited about their research and development capabilities and the breadth of the products they bring to our portfolio."
About Freedom Group, Inc.
Freedom Group is the world’s leading innovator, designer, manufacturer, and marketer of firearms, ammunition, and related products for the hunting, shooting sports, law enforcement, and military markets. As one of the largest manufacturers in the world of firearms and ammunition, we have some of the most globally recognized brands including Remington, Bushmaster, DPMS/Panther Arms, Marlin, H&R, NEF, LC Smith, Parker, EOTAC, AAC, Dakota and INTC. The Company distributes its products throughout the U.S. and in over 80 foreign countries. More information about the Company can be found at www.freedom-group.com.
The Company assumes no obligation to update publicly such forward–looking statements, whether as a result of new information, future events or otherwise.