The Smith & Wesson Holding Corp. will adopt a new corporate name starting Jan. 1, 2017. The change reflects their expansion into the greater world of outdoor activities. The company’s new name will be the American Outdoor Brands Corp.
Along with the name change on the business side of things the company will adopt a new NASDAQ stock exchange listing, AOBC. Smith & Wesson has traded under the name SWHC since 2002 shortly after they were acquired by Saf-T-Hammer in the previous year.
On the eve of the decision James Debney, Smith & Wesson CEO said, “By executing on our strategy to be a leader in the shooting, hunting, and rugged outdoor enthusiast markets, we have successfully grown from a single operating division to four operating divisions … [and] more than 18 respected consumer brands.”
“We believe the name American Outdoor Brands Corporation will better reflect our family of brands, our broad range of product offerings and our plan to continue building upon our portfolio of strong American brands,” added Debney. “Looking forward, we intend to aggressively grow organically and through strategic acquisitions, focusing on brands and products that best meet the needs and lifestyle of our target consumers.”
The Smith & Wesson brand will continue to live on and represent the company’s firearms business. The change reflects that the holding corporation does more than guns. Just this August Smith & Wesson purchased knife maker Taylor Brands for $85 million and Crimson Trace for $95 million.
That being said, selling guns has been very good for the corporation that will formerly be known as the Smith & Wesson Holding Corp. The gun maker has been busy expanding its M&P brand. New M&P firearms include rimfire training and plinking rifles, competition and hunting pistols and rifles and expanded concealed-carry options.
Smith & Wesson earnings totaled $723 million in 2016 and the company projects it will earn between $920 million and $930 million by the end of 2017.
Gun sales have been off the charts for two years straight. Between political pressure to enact new gun control laws by any means necessary and a presidential candidate (Hillary Clinton) running on the issue of gun control, gun owners have been snapping up firearms of all types.
“There have been more guns sold since I’ve been President than just about any time in U.S. history,” said Mr. Obama last June, reports Bearing Arms. And just as guns sales rise crime continues to drop.
By using FBI records, some estimates say that there are between 412 and 660 million privately owned guns in the U.S., more than there are people by far. This flies in the face of reports of declining gun ownership.
It’s no wonder that companies like Smith & Wesson are expanding. What do you think of the new name?
Click here to shop for Smith & Wesson products on GunsAmerica.