BAE Systems plc : BAE Systems Announces Agreement to Sell Safariland Business
05/02/2012| 09:25am US/Eastern
BAE Systems announced today that it has reached an agreement for the
sale of its Ontario, California-based Safariland, LLC business to a
newly formed acquisition vehicle affiliated with Kanders & Company, Inc.
Safariland, which has been part of BAE Systems since the 2007
acquisition of Armor Holdings, Inc., is a leading manufacturer and well
recognized brand of innovative, high-quality protective products for law
enforcement and security customers worldwide. The business employs
approximately 1,700 people who work in the United States and Mexico at
five locations in Ontario, California; Jacksonville, Florida;
Pittsfield, Massachusetts; Casper, Wyoming; and Tijuana, Mexico.
"This proposed sale is another step in our ongoing plan to streamline
our organization and further align the business portfolio with our
strategy," said Frank V. Pope, president of BAE Systems, Inc.'s Land &
Armaments sector. "We believe that this sale is in the best interests of
BAE Systems as well as the Safariland business."
The proposed sale is conditional, among other things, upon receiving
certain regulatory approvals, and is expected to close during the second
or third quarter of 2012.
Brian Roehrkasse, +1 703 312 6976
Mobile: +1 703
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