Smith & Wesson Brands said on 21 October 2026 that it had acquired Savage Arms from JDH Capital in a cash-and-share deal based on a transaction value of about US$164.9m.
Why Smith & Wesson Brands, Inc. is buying Savage Arms (Long Range Intermediate LLC)
The deal expands Smith & Wesson's position in hunting firearms, particularly bolt-action rifles, Savage's strongest category.
Deal terms and financing
Smith & Wesson issued 8,993,968 shares, equal to 19.99% of its stock before the deal and valued at US$13.62 each, and paid US$42.4m in cash, subject to a post-closing adjustment. The seller's shares are subject to a lock-up expiring in three instalments after 90, 240 and 360 days, as well as standstill and voting commitments.
Regulatory approvals and timing
The merger agreement was signed and completed on 21 October 2026.
Market context
Savage, based in Westfield, Massachusetts, has made firearms for more than 130 years and has about 500 employees. Smith & Wesson said the combination makes it the largest commercial firearms manufacturer in the United States.
