Olin Corporation has acquired the assets of White Flyer Targets, LLC, a U.S. recreational trap, skeet and sporting clay targets business. Olin will combine White Flyer with the Winchester Ammunition business.
The acquisition includes White Flyer’s five manufacturing plants in Coal Township, PA; Dalton, GA; Webb City, MO; Knox, IN; and San Bernardino, CA, and includes White Flyer’s recently announced Eco Flyer target product line.
“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,” said Brett Flaugher, president of Winchester Ammunition. “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 CEO of Reagent Diversified Holdings, Inc., owner of White Flyer Targets, LLC, noted, “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 pre-merger 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.
Photo courtesy White Flyer Targets
