Brunswick has sold Hoppe’s to Michaels of Oregon Co.
Brunswick Corporation (NYSE: BC) announced today that it has completed the sale of its Hoppe’s shooting sports accessories business to Michaels of Oregon Co., a specialty manufacturer based in Oregon City, Ore. Terms of the transaction were not disclosed.
“With this latest transaction, we continue to make steady progress toward completing the planned divestiture of our outdoor businesses,” said George W. Buckley, Brunswick’s chairman and chief executive officer. “During the fourth quarter of 2000 we sold our bicycle, sleeping bag, camping equipment and Remington outdoor apparel businesses. We are currently focused on completing the sale of our remaining fishing and cooler businesses. “By divesting these businesses, we are better positioned to devote our full attention to building our market-leading businesses in marine engines, pleasure boats, fitness equipment, bowling and billiards.”
Michaels of Oregon is a leading source for holsters, belts, gun cases and other accessories for recreational shooters and law enforcement officials.
Headquartered in Lake Forest, Ill., Brunswick Corporation is a marketer and manufacturer of leading consumer brands including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; Sea Ray, Bayliner and Maxum pleasure boats; Baja high-performance boats; Boston Whaler and Trophy offshore fishing boats; Princecraft deck and pontoon boats; Life Fitness, Hammer Strength and ParaBody fitness equipment; Brunswick bowling centers, equipment and consumer products; and Brunswick billiards tables.
Lincoln Partners initiated this transaction, assisted in the negotiations and acted as financial advisor to Brunswick Corporation.
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