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The Australian company has announced a 100 per cent acquisition of US manufacturer Barrett Firearms, expanding the company’s global footprint.
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Robert Nioa, chief executive officer of NIOA Group, explained that the company would still operate under the Barrett brand as a separate division. It will operate alongside other NIOA Group divisions, including NIOA Australia, NIOA New Zealand, the Australian Missile Corporation and the joint venture Rheinmetall NIOA Munitions.
Barrett products are in use by the United States military, law enforcement agencies and 75 US Department of State-approved countries around the world.
Production at Barrett’s Murfreesboro facility will continue as normal with future growth projected. All staff have been retained.
The financial terms of the deal have not been disclosed.
Nioa said that the companies shared the same mission.
“NIOA’s association with Barrett dates back to 2008. We have been inspired by the story of Barrett and admire what Ronnie, Chris and the family have built over more than four decades,” he said.
“It’s been a story of hard work, perseverance, and purpose culminating in the delivery of critical capability for the men and women of the US military and its allies around the world as well as exceptional products to law enforcement agencies and civilian markets.
“Together we share the same mission — combining our expertise and family business values will ensure Barrett carries on building the finest products in the world.’’
In a release from the company, current Barrett president Sam Shallenberger had been promoted to chief executive officer, and Bryan James has been appointed president having served as chief operating officer.
“Today marks the beginning of a new chapter in the Barrett story. Rob and the NIOA team have great respect for the legacy Barrett has created as the leader in long-range precision rifles. 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,” Barrett founder Ronnie Barrett said.
