By Ben Glickman
Clarus will sell its hunting-bullet segment for $175 million in cash.
The Salt Lake City-based outdoor equipment maker said the U.S.-based non-strategic buyer is not affiliated with the company or any officers or directors.
Clarus said the sale was the result of a review of the Precision Sport unit, initiated after Executive Chairman Warren Kanders sent a non-binding indication of interest in acquiring the unit through an affiliated entity.
Kanders’ offer, disclosed in September, was to acquire the segment for $160 million on a cash-free, debt-free basis.
The unit is composed of Sierra Bullets and Barnes Bullets — Mona, which make bullets for hunting and target shooting.
The transaction is expected to close in the first quarter of 2024. The company said it would use the proceeds to pay down debt and for general corporate purposes.
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