When did B&L get bought up?
Bushnell Corporation is an American firm that specializes in sporting
optics and outdoor products. It is based in
Overland Park, Kansas and is a wholly-owned subsidiary of
Vista Outdoor. Bushnell makes
binoculars,
telescopes,
spotting scopes,
riflescopes,
red dot sights,
GPS devices,
laser rangefinders,
game cameras,
night-vision devices and other optical equipments.
Company history
[
edit]
The company was founded in 1948 by
David P. Bushnell, when he returned to California from his honeymoon in
Japan with two crates of
binoculars and sold them by
mail order.
[2] Bushnell made precision
binoculars affordable to middle-class Americans for the first time through a strategy of importing from manufacturers in
Hong Kong,
Taiwan, and Japan, who provided optics to his patented specifications.
[2] Bushnell eventually expanded his business to include riflescopes and spotting scopes. In 1971, Bushnell sold his company to
Bausch & Lomb. The firm renamed itself Bushnell Performance Optics. Three years later, Bushnell retired as vice-president of Bausch & Lomb.
[2]
In 1999,
Bausch & Lomb sold Bushnell Performance Optics to the
private equity firm Wind Point Partners through a recapitalization of Bushnell's then parent company, Worldwide Sports & Recreation.
[3][4][5]
The
Serengeti Eyewear brand was acquired by Bushnell in September 2000.
Bollé, Cébé and Serengeti Eyewear were part of
Vista Outdoor's acquisition of Bushnell in 2013. In July 2018, Vista Outdoor announced it had reached an agreement with a European private equity fund to sell the Bollé, Cébé and Serengeti eyewear brands.
[6]
In 2002, Bushnell bought the sporting optics company
Tasco. Tasco is a major international distributor of telescopes. The company's line of products mainly target amateur astronomers but has grown to include many products besides
telescopes. Tasco's other products include terrestrial
spotting scopes,
microscopes,
binoculars, and telescopic sights and other rifle accessories. Tasco sells through specialty outlets, catalogs, and online vendors.
[7]
In 2005, Bushnell acquired Michael’s of Oregon. Michael's sold holsters, scope covers, cleaning kits, and other gun accessories under the brands Hoppe’s, Butler Creek, Stoney Point, and Uncle Mike’s Law Enforcement.
[7] At the time of its purchase by Bushnell, Michael's earned about $60 million per year in profit. Michael's of Oregon was based in Oregon City. The deal was closed with debt and cash.
[5]
In 2007, Bushnell was acquired by
MidOcean Partners, another private equity firm, which acquired it in a
leveraged recapitalization.
[4] The same year, Bushnell acquired the Final Approach and Kolpin Hunting brands from Facilitator Capital Funds, a Wisconsin-based private equity firm. Both brands are well known among duck hunters.
[7]
On Sept. 5, 2013,
Alliant Techsystems announced that it had entered into a firm agreement to acquire Bushnell. ATK paid $985 million in cash, subject to customary post-closing adjustments.
[8]
After ATK merged with Orbital Sciences in 2015 to form
Orbital ATK, it spun off Bushnell and other subsidiaries as
Vista Outdoor, a publicly-listed company.
[9]