ATK buys sporting and hunting gun maker for $315M


Virginia-based Alliant Techsystems Inc., an aerospace and defense contractor, is giving its Twin Cities-based sporting group division a shot in the arm, the Star Tribune reports.

ATK has agreed to purchase the Caliber Company from Minneapolis-based private equity firm Norwest Equity Partners for $315 million in cash.

Caliber is the parent company of Savage Sports Corporation, which is one of the world’s largest and oldest makers of hunting rifles and shotguns.

"This opportunity will allow us to build upon our offerings with Savage's prominent, respected brands," Alliant Chief Executive Mark DeYoung said in a news release. "Savage's sales distribution channels, new product development, and sophistication in manufacturing will significantly increase our presence with a highly relevant product offering to distributors, retailers and consumers."

ATK anticipates the transaction to close on or before June 30, 2013.

Next Up

Luis Arraez

Arráez's triple gives Twins rare extra-inning victory

The Twins scored three runs in the 10th to take Friday's opener.

court gavel

St. Cloud man sentenced after traveling to meet minor he solicited online

Nathan Paul Grondahl learned his fate in a federal court this week.

Kirill Kaprizov / Minnesota Wild

Report: Contract talks between Kaprizov and Wild have 'gone cold'

The report states Kaprizov is drawing interest from the KHL.


Glensheen Mansion reveals new coffee bar - with fresh donuts

It's located in the historic Carriage House garage space

Bogdan Vechirko

Charges against trucker who barreled through protestors could be dropped

Bogdan Vechirko will have to avoid legal trouble for a year.

Dychaun Chew - South High School Facebook

Loved ones mourn 16-year-old killed in Minneapolis hit-and-run

South High School held a balloon release for Dychaun Chew Thursday evening.

police lights

5-year-old dies 3 weeks after assault, mother's charges upped to murder

The girl died three weeks after the assault took place.