Ruger buys stake in Kodabow

Posted: June 28, 2012

Firearms manufacturer Sturm, Ruger & Co. Inc. of Southport, Conn., has purchased a minority interest in West Chester crossbow manufacturer Kodabow, a start-up that made its first sale in 2010 and had revenues of close to $1 million last year.

Terms of the investment were not disclosed. In a statement, Michael O. Fifer, Ruger's president and CEO, said the investment "reflects our interest in one of the faster growing segments of the hunting market."

Kodabow founder Chuck Matasic said Ruger's stake in his company "validates" Kodabow's business model of producing high-quality crossbows that are accurate and reliable.

Ruger, founded in 1949 with manufacturing facilities in Newport, N.H., and Prescott, Ariz., shipped over one million firearms last year, Matasic said. In an interview last August, he said his plan was for Kodabow to reach $30 million to $40 million in sales within five years."

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