RNS Number : 5916C
BAE SYSTEMS PLC
02 May 2012
BAE Systems agrees sale of Safariland business
2 May 2012
BAE Systems has entered into an agreement for the sale of its Safariland, LLC business to a newly formed acquisition vehicle affiliated with Kanders & Company, Inc. for cash consideration of approximately $114 million. The Safariland business is headquartered in Ontario, California, and operates across five sites in the US and Mexico and had 2011 sales of $206.2 million. The business employs approximately 1,700 people who design and manufacture innovative, high-quality protective products for law enforcement and security customers worldwide.
The sale of the Safariland business is conditional, among other things, upon certain regulatory approvals, and is expected to close in the second or third quarter of 2012.
BAE Systems plc
This information is provided by RNS
The company news service from the London Stock Exchange