Australia-based firearms, weapons, and ammunition supplier NIOA has acquired the US-based rifle manufacturing company Barrett Firearms for an undisclosed amount.
The 100% acquisition of Barrett Firearms marks the entry of NIOA into the US market, further expanding NIOA’s global reach.
Financial terms of the deal have not been divulged.
Following this deal, Barrett Firearms will continue to operate with its own brand name as a separate division within NIOA Group, alongside its other entities NIOA Australia, Australian Missile, NIOA New Zealand, and Rheinmetall NIOA Munitions.
NIOA confirmed that all the staff members at Barrett’s facility in Murfreesboro, Tennessee, US, have been retained and the manufacturing work will also continue as usual.
It is planning to expand manufacturing activities at its Tennessee-based facility in the future.
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NIOA Group CEO Robert Nioa said: “It’s been a story of hard work, perseverance, and purpose, culminating in the delivery of critical capability for men and women of the US military and its allies around world and exceptional products to law enforcement agencies and civilian markets.”
NIOA revealed that Barrett’s existing president Sam Shallenberger has been promoted to take-up the role of CEO while its current CEO Bryan James has been appointed as the new president.
Barrett founder Ronnie Barrett said: “It’s reassuring to know Barrett will be in good hands with a family-owned company that is focused on manufacturing and delivering world-class firearms and munitions to a global network.”
Ronnie and his son Chris Barrett will serve as the executive advisers for Barrett and NIOA.
NIOA manufactures weapons and ammunition for the Australian and New Zealand defence forces.
The company also manufactures Abrams main battle tanks’ 120mm munitions and other 30mm and 35mm cannon ammunitions at the Australian government-owned, contractor-operated facility in Benalla, Victoria, as one of the major tenants.