Armor Holdings, Inc. Completes Acquisition of Bianchi International
JACKSONVILLE, Fla. - Armor Holdings, Inc. (NYSE: AH), a leading manufacturer and distributor of security products and vehicle armor systems serving law enforcement, military, homeland security and commercial markets, has completed its previously announced acquisition of Bianchi International ("Bianchi"), for $60.0 million in cash. Bianchi is a leading supplier of holsters, belts and accessories under the Bianchi™ brand name and a leading supplier of premium quality outdoor backpacks and daypacks under the Gregory™ brand name.
Bianchi will be integrated into Armor Holdings' Products Division and is expected to be immediately accretive to earnings per share. Robert R. Schiller, President and Chief Operating Officer of Armor Holdings, Inc., commented, "We are very pleased to have completed this complementary acquisition of well-established brands. We believe that through this acquisition, we will further diversify our distribution capabilityand product portfolio, providing greater choices for our law enforcement, military, and recreational customers. We are delighted to welcome Bianchi's outstanding management team and dedicated employees to the Armor Holdings family."
About Armor Holdings, Inc.
Armor Holdings, Inc. (NYSE:AH) is a diversified manufacturer of branded products for the military, law enforcement, and personnel safety markets. Additional information can be found at www.armorholdings.com. Certain matters discussed in this press release constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. The Company may use words such as "anticipates," "believes," "plans," "expects," "intends," "future," and similar expressions to identify forward-looking statements. These risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission, including the company's Registration Statement on Form S-3, its 2003 Form 10-KA and most recently filed Form 10-Qs and 8-Ks.