Sturm, Ruger & Company, Inc. (RGR) Announces Asset Purchase of Anderson Manufacturing

Sturm, Ruger & Company, Inc. (NYSE:RGR) is among the 10 Best Small Cap Defense Stocks to Buy According to Hedge Funds. Earlier this month, the company announced the asset purchase of Anderson Manufacturing, a firearms manufacturer, based in Hebron, Kentucky.

The strategic acquisition will include the takeover of Anderson’s manufacturing facility and equipment, providing Sturm, Ruger & Company, Inc. (NYSE:RGR) with an opportunity to strengthen its production and expand its product offerings.

Todd Seyfert, President and CEO of Sturm, Ruger & Company, Inc. (NYSE:RGR), stated the following on the acquisition:

“This acquisition is an incredible opportunity to advance our long-term strategy and expand Ruger’s capacity. We’re excited to welcome members from the talented team at Anderson Manufacturing and leverage their knowledge and infrastructure to better serve our customers. This move reinforces Ruger’s position as a leader in the industry, and reiterates my focus on continued growth, even as others scale back.”

According to the press release dated July 1, Sturm, Ruger & Company, Inc. (NYSE:RGR) will not continue the Anderson brand or its products. Instead, it will integrate the facility into its own wider operations.

Sturm, Ruger & Company, Inc. (NYSE:RGR) is an American firearms company with a diverse portfolio of products, mainly serving three product lines – pistols, rifles, and revolvers.

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