Queensland-based global defence contractor NIOA has acquired industry-leading rifle design and manufacturing company Barrett Firearms.
Robert Nioa, chief executive officer of NIOA, said the two family-owned companies will combine their expertise and values to ensure Barrett carries on building cutting-edge products.
“Together we share the same mission – combining our expertise and family business values will ensure Barrett carries on building the finest products in the world,” Nioa said.
As part of the acquisition deal, Barrett would continue to operate under its own brand as a separate division within the NIOA Group, alongside NIOA Australia, NIOA New Zealand, the Australian Missile Corporation, and the group’s investment in joint venture company Rheinmetall NIOA Munitions.
Employees at the Murfreesboro manufacturing facility in Tennessee have been retained and production will continue as normal, according to the agreement.
Over time, manufacturing activities at the Murfreesboro facility will be expanded further, NIOA Group said in a media release.
Two leadership appointments have also been made as part of the acquisition, with Barrett President Sam Shallenberger assuming the role of chief executive officer. Bryan James, long-serving chief operating officer at Barrett, will take over the role of president.
Ronnie and Chris Barrett will provide ongoing support as executive advisers to Barrett at the NIOA Group.
“Rob and the NIOA team have great respect for the legacy Barrett has created as the leader in long-range precision rifles,” said founder Ronnie Barrett. “It’s reassuring to know Barrett will be in good hands with a family-owned company that is focused on manufacturing and delivering world-class firearms and munitions to a global network.”
This latest acquisition marks a new chapter in NIOA’s efforts to enter the US market, where it has established partnerships with various American companies, such as Vista Outdoors, Leupold, General Dynamics, Northrop Grumman, and Winchester-operated Lake City ammunition plant.
Financial terms of the acquisition have not been disclosed.
