Olin Corporation completed the acquisition of Assets of White Flyer Targets, LLC for $63.5 million.
October 30, 2023
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Olin Corporation (NYSE:OLN) signed an agreement to acquire Assets of White Flyer Targets, LLC on August 23, 2023. The acquisition includes White Flyer's five state of the art manufacturing facilities in Coal Township, Pennsylvania; Dalton, Georgia; Webb City, Missouri; Knox, Indiana; and, San Bernardino, California and includes White Flyer's recently announced ECO FLYER® target product line. The transaction is contingent on Olin's completion of confirmatory due diligence, definitive agreements, and final approval of both companies' Boards of Directors. The transaction is not expected to require any premerger filings. Olin would fund the transaction with cash on hand and anticipates that the transaction would be immediately accretive to Olin's shareholders. The transaction is expected to be completed in the fourth quarter of 2023.
Olin Corporation (NYSE:OLN) completed the acquisition of Assets of White Flyer Targets, LLC for $63.5 million on October 1, 2023. The final assets acquired, excluding goodwill and intangibles, and liabilities assumed amounted to $66.6 million and $10 million, respectively. The acquisition was financed with cash on hand.
Olin Corporation is a vertically integrated global manufacturer and distributor of chemical products and a manufacturer of ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. The Epoxy segment produces and sells a full range of epoxy materials and precursors, including aromatics (acetone and phenol), allyl chloride, epichlorohydrin, liquid epoxy resins, solid epoxy resins and systems and growth products, such as converted epoxy resins and additives. The Winchester segment produces and sells sporting ammunition, reloading components, small caliber military ammunition and components, industrial cartridges and clay targets.