Olin Corporation recently announced the existence of an agreement to acquire the assets of White Flyer Targets, LLC, a company well known as North America’s preeminent leader in recreational trap, skeet and sporting clay targets.
The plan is to combine White Flyer with the Winchester Ammunition business.
The acquisition includes White Flyer’s five state-of-the-art manufacturing facilities in Coal Township, Pennsylvania, as well as Dalton, Georgia, and Webb City, Missouri, plus Knox, Indiana, and San Bernardino, California. Additionally, White Flyer’s recently announced ECO FLYER target product line will be included in the deal.
“We are extremely excited to bring together these two leading brands to serve the millions of people who participate in competitive and recreational shotgun shooting sports,” Brett Flaugher, the president of Winchester Ammunition said. “The combination of Winchester and White Flyer should enhance the continued growth of trap, skeet, sporting clays and other shotgun sports. This acquisition offers the unique opportunity to provide comprehensive ammunition and clay target solutions for the thousands of shooting ranges across America.”
Robert Lippert, president and chief executive officer of Reagent Diversified Holdings, Inc., owner of White Flyer Targets, LLC, said, “Winchester is the perfect choice to take ownership of our iconic brand. The pride our employees have in White Flyer Targets, LLC, will only expand as they are welcomed into the Winchester team. We are confident that shooting sports, overall, will benefit from this pairing.”
The transaction is contingent on Olin’s completion of confirmatory due diligence, definitive agreements, and final approval of both companies’ Boards of Directors. The transaction is not expected to require any premerger filings and is expected to be completed in the fourth quarter of 2023. Olin would fund the transaction with cash on hand and anticipates that the transaction would be immediately accretive to Olin’s shareholders.