Olin - Winchester to Acquire Ammunition Assets of AMMO, Inc.

Core Viewpoint - Olin Corporation has entered into a definitive agreement to acquire AMMO, Inc.'s small caliber ammunition manufacturing assets for $75 million, which will enhance Olin's Winchester Ammunition business and is expected to generate significant synergies and incremental EBITDA [1][3]. Acquisition Details - The acquisition includes AMMO's brass shellcase capabilities and a 185,000 square foot production facility in Manitowoc, Wisconsin, built in 2022 [2]. - The transaction will be funded through available liquidity and is expected to close in the second quarter of 2025, subject to customary terms and conditions [1][3]. Strategic Benefits - The Manitowoc assets will enhance Winchester's production capabilities, allowing for greater specialization in high-margin specialty calibers and driving cost reductions in existing high-volume products [2][3]. - The acquisition is anticipated to yield realized synergies of$40 million and generate $15 million to$20 million of incremental adjusted EBITDA in the first year [2][3]. Company Overview - Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products and ammunition, with Winchester producing various types of ammunition including sporting and military [4].