US defence contractor Alliant Techsystems in talks to buy Bushnell

Alliant Techsystems Inc (ATK) the US aerospace, defense, and commercial products manufacturer, is in advanced talks to buy gun accessory maker Bushnell Outdoor Products Inc for around $1 billion, Reuters yesterday reported, citing two sources familiar with the matter.

Private equity firm MidOcean Partners, owner of Bushnell had in February hired Morgan Stanley and Robert W Baird to find buyers for the company.

In 2007, New York-based MidOcean Partners had teamed up with the senior management of Bushnell to acquire the company from Wind Point Partner for an undisclosed sum.

Founded in 1948, Kansas-based Bushnell is a global manufacturer of optics and imaging. Its products include binoculars, spotting scopes, telescopes, night vision equipment, GPS devices, laser rangefinders, riflescopes, holographic weapon sights, game cameras and other high-end optical equipment.

The company also sells Bollé Performance Eyewear ski goggles and sunglasses and Serengeti Eyewear all-purpose sunglasses.

Its products are sold under the Bushnell, Tasco, Serengeti, Bolle, Uncle Mike's Law Enforcement, Stoney Point, Hoppe's, Blackwater Gear, and Butler Creek brand names.

Formed in 1990 as a subsidiary of Honeywell Inc, as part of Honeywell's plan to exit the defense industry, Virginia-based ATK has grown into a $4.4 billion defence contractor mainly through internal expansion and a series of acquisitions.