Meade Instruments pays $20 million in cash for Simmons Outdoor - SNEWS

Meade Instruments pays $20 million in cash for Simmons Outdoor

Meade Instruments Corp. has signed an agreement with Simmons Outdoor Corp. to buy all its outstanding common stock for $20 million in cash.
Author:
Updated:
Original:

Meade Instruments Corp. has signed an agreement with Simmons Outdoor Corp. to buy all its outstanding common stock for $20 million in cash. Simmons distributes and markets binoculars and riflescopes under the Simmons, Redfield and Weaver brand names. John Diebel, Meade's chairman and CEO, predicts the Simmons purchase will firmly establish Meade in the binocular market, valued at $175 million wholesale, and the riflescope market, estimated to be $150 million at wholesale. Before the Simmons acquisition, Diebel said Meade only had an emerging domestic presence in the binocular market and no foothold in the riflescope market. "We expect the acquisition to make measurable contributions to Meade's top-line growth in coming years, adding as much as $40 million in revenue," he said. In addition to Simmons staff, Meade also plans to add three former senior members of the sales and management team and a sales vice president from Tasco Sales, another distributor of riflescopes and binoculars. The sale should be complete by November 30.

Related

Outdoor financials: Bushnell acquires assets of Simmons Outdoor, plus Lafuma Group, VF, Wolverine, Johnson Outdoors, GSI Commerce

Bushnell acquires assets of Simmons Outdoor Bushnell Outdoor Products has acquired the Simmons brand and certain other assets of Simmons Outdoor Corp. from Meade Instruments Corp. Bushnell is a privately held company funded by MidOcean Partners, a private equity firm with ...read more

Outdoor financials: Deckers pays off debt, plus Phoenix, Sport Chalet

Deckers pays off $27 million debtUsing a portion of the proceeds from a stock offering, Deckers Outdoor Corp. (Nasdaq: DECK) has repaid all of its outstanding loans, the company reported on May 26. The common stock offering closed on May 18. With the net offering proceeds of ...read more

Outdoor financials: Eddie Bauer prepays $20 million in debt, plus Crocs

Eddie Bauer prepays $20 million in debt Eddie Bauer Holdings (Nasdaq: EBHI) said it prepaid $20 million of a long-term loan, with $196 million still outstanding. The company said it is in compliance with terms of the agreement, signed April 4, 2007, with lenders Goldman Sachs ...read more

Black_Diamond_logo.gif

Black Diamond touts $70 million in available cash and credit for prospective acquisitions, apparel launch

Black Diamond Inc. (Nasdaq:BDE) reported higher revenue and profit for the fourth quarter 2011, also updating investors of its cash and credit on hand following its recent stock offering and paying down of debt. The Salt Lake City-based outdoor equipment manufacturer and parent ...read more

Outdoor financial: Jarden to acquire K2; both companies release Q1 earnings reports

Jarden Corp. (NYSE: JAH), a diversified consumer products company with brands such as Coleman and Campingaz, has signed a definitive merger agreement to buy K2 Inc. (NYSE: KTO) in a cash and stock deal valued at about $15.50 per share, or $765.9 million, the companies said. Under ...read more

OUCH! Deckers has to pay $4.29 million more in damages to Yeti

A federal judge in the United States District Court, District of Montana, ruled on Sept. 30 that Deckers Outdoor Corp. must pay Molly Strong-Butts and her now-defunct company, Yeti by Molly, Ltd., an additional $4.29 million, including $2.45 million of exemplary damages and ...read more

OUCH! Deckers has to pay $4.29 million more in damages to Yeti

A federal judge in the United States District Court, District of Montana, ruled on Sept. 30 that Deckers Outdoor Corp. must pay Molly Strong-Butts and her now-defunct company, Yeti by Molly, Ltd., an additional $4.29 million, including $2.45 million of exemplary damages and ...read more

Dick's to purchase Galyan's for reported $362 million

Dick's Sporting Goods Inc. (NYSE: DKS) announced this afternoon during a 5:15 p.m. EST conference call that the retailer had entered into an agreement with Galyan's Trading Company (Nasdaq: GLYN) to acquire all the issued and outstanding shares of stock of Galyan's. Pending ...read more

Financials09sm.jpg

Outdoor Financials: VF Corp. to buy Rock & Republic

VF Corp. to buy Rock & Republic V.F. Corp. (NYSE: VFC), parent of The North Face and JanSport, announced that it is expanding its portfolio of brands to include Rock and Republic. V.F. will only acquire the trademarks and intellectual property of the bankrupt Rock and Republic, ...read more