Bushnell Outdoor Products has acquired the Simmons brand and certain other assets of Simmons Outdoor Corporation from Meade Instruments Corp. Simmons is a provider of high quality, innovative optical products, including a complete line of riflescopes and binoculars, as well as spotting scopes.
“The Simmons line of optical products provides a strategic asset and a valuable brand to our company,” said Joe Messner, president and CEO of Bushnell Outdoor Products. “We want to continue to provide value and service to the loyal Simmons customers and consumers that they have grown to expect over the past 30 years.”
“Acquisition of the Simmons line is consistent with MidOcean's strategy of expanding the Bushnell platform through select strategic acquisitions,” said David Basto, a Principal at MidOcean Partners. “Our goal is to identify attractive brands which we can improve by leveraging Bushnell's strong distribution channel and management expertise.”
The parties signed a definitive purchase agreement and the transaction closed on June 12, 2008.
This marks the seventh acquisition Bushnell has made since 2001. The most recent was the purchase of the Kolpin and Final Approach brands in 2007. Prior to that, Michael's of Oregon in 2005 with the addition of the Uncle Mike's, Hoppe's, Butler Creek, Stoney Point, Uncle Mike's Law Enforcement brands. The Tasco sports optics brand was added in 2002 and Bolle and Serengeti premium eyewear brands were acquired in 2001, along with Moonlight night vision products.
Bushnell is a privately held company funded by MidOcean Partners, a private equity firm with offices in New York and London .