Sturm, Ruger & Co., Inc. (NYSE: RGR) is proud to announce that it has purchased a minority interest in Kodabow, Inc., a crossbow manufacturer based in West Chester, PA. Ruger’s investment will help Kodabow accelerate its business plans and expand its infrastructure.
“This investment reflects our interest in participating in one of the faster growing segments of the hunting market,” said Ruger President & CEO Michael O. Fifer. “Crossbows are increasingly becoming a new and exciting choice for outdoor-oriented consumers as they bridge the gap between traditional archery and firearms. Crossbows are gaining broader acceptance and more states are adopting crossbow hunting seasons. We have watched Kodabow make steady progress with its innovative crossbow platform and USA-based manufacturing. We expect that Kodabow will have a bright future and this Ruger investment will assist the company in moving forward,” he concluded.
“We are extremely pleased to have an association with Ruger,” said Chuck Matasic of Kodabow. “Ruger shares our vision that delivering dependable and innovative hunting products made in the USA will drive industry leadership and success. Ruger’s investment validates our business model based upon high quality and customer satisfaction, and most of all, crossbow products that are accurate and reliable – qualities very evident in Ruger firearms,” he concluded.
About Sturm, Ruger:
Sturm, Ruger was founded in 1949 and is one of the nation’s leading manufacturers of high-quality firearms for the commercial sporting market. Sturm, Ruger is headquartered in Southport, CT, with manufacturing facilities located in Newport, NH and Prescott, AZ.
Sturm, Ruger & Co., Inc.
Arms Makers for Responsible Citizens®
The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made.The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events.