Bushnell to Acquire Assets of Simmons Outdoor Corporation
MidOcean Partners, a middle market private equity fund, and Bushnell Outdoor Products announced today that Bushnell has acquired the Simmons brand and certain other assets of Simmons Outdoor Corporation from Meade Instruments Corp, a California-based publicly traded company.
The acquisition includes a complete line of riflescope and binoculars, as well as spotting scopes.
This acquisition continues the expansion of the family of outdoor brands under the Bushnell Outdoor Products umbrella. Since 1983, Simmons has manufactured items like the Master Series line of riflescopes, the Simmon's ProSport compact, and full-size line of binoculars.
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.
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, the company bought Michael's of Oregon in 2005 with the addition of the Uncle Mikes, Hoppes, Butler Creek, Stoney Point, Uncle Mikes Law Enforcement brands.
The Tasco sports optics brand was added in 2002 and Bollé 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.