Smith & Wesson and Savage Arms: from handguns to hunting rifles
Two historic names in the American firearms industry are now under the same corporate roof. On October 21, 2026, Smith & Wesson announced it had completed the acquisition of Savage Arms, the Westfield, Massachusetts-based manufacturer with more than 130 years of history.
The industrial rationale for the deal lies in the complementary strengths of the two companies. Smith & Wesson brings its established position in handguns; Savage adds a strong foothold in bolt-action rifles and other long guns for hunting, competition, and target shooting.
Smith & Wesson President and CEO Mark Smith described the acquisition as a strategic step toward broadening the company's product range, accelerating innovation, and improving operating efficiency. JDH Capital Managing Director Michael Fertitta likewise pointed to the companies' shared traditions, focus on quality, and commitment to shooters.
Savage generated approximately $160 million in revenue during the 12 months ended September 30, 2026. Smith & Wesson expects initial annual synergies of approximately $2.5 million and an improvement in earnings per share, subject to those projections being met.
Acquisition terms and JDH Capital's new role
Under the agreement, Savage's base valuation is $160 million, subject to contractual adjustments. According to the official announcement, the purchase price consists of approximately nine million Smith & Wesson shares and $37.5 million in cash. JDH Capital, a private investment firm based in Houston, Texas, becomes Smith & Wesson's largest shareholder, with a 16.7% stake.
The Savage acquisition is only the latest in a series of deals reshaping the U.S. firearms industry. Following the very recent developments involving Ruger, the other historic American revolver maker (and a great deal more besides) is now at the center of a major shake-up. Will there be more changes of ownership? We'll see. As always, we'll be here to bring you the news, so stay tuned!
