BAE Systems said final agreement for the company's sale to a "newly formed acquisition vehicle" affiliated with Kanders and Co. Inc. has been reached.
No details on the financial aspects and other conditions of the sale were disclosed by BAE Systems but it said it expected the sale to close in the third quarter this year following receipt of regulatory approval.
"This proposed sale is another step in our ongoing plan to streamline our organization and further align the business portfolio with our strategy," said Frank V. Pope, president of BAE Systems Inc.'s Land and Armaments sector. "We believe that this sale is in the best interests of BAE Systems as well as the Safariland business."
BAE took control of Safariland in 2007 as part of its acquisition of Armor Holdings Inc.
Safariland produces products such as body armor, holsters and other firearm accessories.
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