S&W to buy TC

Smith & Wesson Holding Corp. has announced it has agreed to acquire Thompson/Center Arms Inc. The company will pay $102 million in cash for the New Hampshire-based designer, manufacturer and marketer of hunting firearms.

Smith & Wesson president and CEO Michael Golden called the acquisition "an important step in our diversification strategy" and said the move will expand the company's presence in the $1.1 billion long gun market.

In conjunction with the acquisition, Gregg Ritz, Thompson/Center Arms president and CEO, will be named president of Smith & Wesson-Hunting. Ritz will continue to lead the Thompson/Center Arms operation and will head Smith & Wesson's efforts to develop its hunting business. The transaction is expected to close in January.

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