Clarus enters into definitive agreement to sell precision sport segment

Salt lake city, dec. 29, 2023 (globe newswire) -- clarus corporation (nasdaq: clar) (“clarus” and/or the “company”), a global company focused on the outdoor and consumer enthusiast markets, today announced that it has entered into a definitive purchase and sale agreement (the “agreement”) to sell its precision sport segment, which is comprised of the company's sierra bullets, l.l.c. and barnes bullets – mona, llc subsidiaries, to a u.s.-based non-strategic buyer that is not affiliated with the company or any of its officers or members of its board of directors, in an all-cash transaction for $175 million at closing, subject to a customary working capital adjustment. the transaction is expected to close in the first quarter of 2024, subject to customary closing conditions, including the receipt of regulatory approvals.
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