American Outdoor Brands — the parent company behind Smith & Wesson and Crimson Trace — scooped up yet another accessory for its expanding electro-optics division: LaserLyte.
The company announced the acquisition Tuesday, noting the brand’s inventory, marketing and development will move to Crimson Trace’s facility in Wilsonville, Oregon.
Lane Tobiassen, president of AOBC’s Electro-Optics Division and Crimson Trace Corp., said the “exciting” new development will boost the company’s existing line-up of laser sights, tactical lights and optics.
” LaserLyte’s firearm training systems, laser sights and bore sights complement our existing offering, enabling us to reach broader segments of the consumer electro-optics addressable market,” he said.
Chief Executive Officer James Debney told investors last month the company would release more than 250 new products in 2019 as it pursues an aggressive infiltration of the outdoor recreation market. The popularity of Smith & Wesson’s M&P Shield 380 EZ pistol helped boost AOBC’s bottom line last year as other gun makers struggled. Sales for both firearms and accessories increased more than 10 percent in its second quarter ending Oct. 31 — defying a double digit drop in federal background checks, the historic indicator of the gun industry’s health over the last 20 years.
“The results we shared demonstrate that we are positioning ourselves well to address an ever increasing portion of the overall shooting, hunting and rugged outdoor enthusiasts market,” Debney said. “We continue to gain traction, evidenced by the fact that nearly one-third of our revenue in the second quarter came from our growing outdoor products and accessories segment, offering consumers a broad and growing portfolio of highly trusted brands and products this quarter.”
The company used cash on hand to complete the LaserLyte acquisition, though no regulatory filings have yet to be published indicating the cost.