PR Newswire
CLAYTON, Mo., Aug. 23, 2023
CLAYTON, Mo., Aug. 23, 2023 /PRNewswire/ -- Olin Corporation (NYSE: OLN) announced an agreement to acquire the assets of White Flyer Targets, LLC, North America's preeminent leader in recreational trap, skeet, and sporting clay targets, and combine it with the Winchester Ammunition business.
The acquisition includes White Flyer's five state of the art manufacturing facilities in Coal Township, Pennsylvania; Dalton, Georgia; Webb City, Missouri; Knox, Indiana; and, San Bernardino, California 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 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.
OLIN COMPANY DESCRIPTION
Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Winchester's principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.
Visit www.olin.com for more information on Olin.
FORWARD-LOOKING STATEMENTS
This communication includes forward-looking statements. These statements relate to analyses and other information that are based on management's beliefs, certain assumptions made by management, forecasts of future results, and current expectations, estimates and projections about the markets and economy in which we and our various segments operate. The statements contained in this communication that are not statements of historical fact may include forward-looking statements that involve a number of risks and uncertainties.
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The risks, uncertainties and assumptions involved in our forward-looking statements, many of which are discussed in more detail in our filings with the SEC, including without limitation the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2022, and our Quarterly Reports on Form 10-Q and other reports furnished or filed with the SEC, include, but are not limited to, the following:
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2023-10
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SOURCE Olin Corporation
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