Two years after acquiring a Jacksonville-based outdoor gear company, American Outdoor Brands Corp. is closing its 100,625-square-foot facility at 7720 Philips Highway.
American Outdoor, formerly known as Smith & Wesson, bought Ultimate Survival Technologies for $32.3 million in 2016 as part of a strategy of expanding its business beyond the iconic firearms brand.
The company said in a Securities and Exchange Commission filing Monday that it will close the former UST facility in Jacksonville and integrate its operations into its other warehouse for its outdoor gear business in Missouri.
UST was an 80-year-old family-owned company that produced survival and camping equipment before the buyout.
Springfield, Massachusetts-based American Outdoor leases the facility, which was acquired by a California investor in December 2017 for $5.075 million, according to Duval County records.
The SEC filing did not indicate how many employees will be affected by the closure.
An American Outdoor spokeswoman said the company has about 50 employees in Jacksonville. She said the company expects to close the facility in about nine months.
The filing said American Outdoor will incur $1.5 million to $2.5 million in restructuring charges related to the closure.
It expects to see annual cost savings from the move in fiscal 2020, which begins May 1, 2019.