Smith & Wesson Completes $160 Million Savage Arms Purchase
The handgun maker closed a mixed cash-and-stock deal that it said combines two iconic American firearm manufacturers and expands its hunting rifle lineup.
Smith & Wesson Brands, Inc. (SWBI) completed its $160.0 million acquisition of Savage Arms on October 21, 2026, combining two American firearm manufacturers in a mixed cash-and-stock transaction.
The consideration consisted of approximately 9 million shares of Smith & Wesson common stock, valued at $13.62 a share, and $37.5 million of cash. The share price was set as the volume-weighted average of Smith & Wesson common stock on the Nasdaq Global Select Market for the 45 consecutive trading days ending on the third trading day immediately prior to closing.
The company said the deal pairs Savage’s strength in hunting and bolt-action rifles with Smith & Wesson’s leadership in handguns, creating a broader product portfolio and a leading U.S. firearms manufacturer.
Mark Smith, President and Chief Executive Officer of Smith & Wesson, commented, “The acquisition of Savage is a transformative step for Smith & Wesson and an important milestone in our strategy to be the undisputed market leader in the firearm industry. Savage’s brand heritage, culture, and longstanding reputation for performance and innovation align closely with our own, and the business meaningfully expands our presence in the hunting category. By bringing these two companies together, we have created a broader, stronger platform with significant opportunities to better serve our customers, accelerate innovation, realize operating efficiencies and drive long-term value for our stockholders.”
The transaction closed on the announced date, with the stock portion priced off the 45-day volume-weighted average through the third trading day before close and the cash portion fixed at $37.5 million.
Smith & Wesson framed the combination as a step toward an undisputed market-leading position, citing Savage’s hunting and bolt-action franchise as complementary to its handgun leadership.
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