Clarus Corporation To Sell Its Precision Sport Segment For $175 Mln

(RTTNews) - Clarus Corporation (CLAR), a leading manufacturer of outdoor equipment and apparel, on Friday, announced that it has agreed to sell its Precision Sport segment in an all-cash transaction for $175 million.

The Precision Sport segment consists of the Company's Sierra Bullets, L.L.C. and Barnes Bullets - Mona, LLC subsidiaries. The buyer is a U.S.-based non-strategic entity that is not associated with Clarus Corporation or any of its officers or members.

The company stated that the primary purpose of the sale is to pay down its debt, but the remaining funds will be available for general corporate purposes.

The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions, including the receipt of regulatory approvals.