Olin Corporation announced that it has completed the previously announced acquisition of the small caliber ammunition assets of AMMO, Inc.

The assets, employees and ammunition business are now part of Olin's Winchester Ammunition business, including the brass shellcase capabilities and a newly constructed, world-class, 185,000 square foot production facility located in Manitowoc, Wisconsin. The facility and its skilled employees complement Winchester's existing production capabilities, enabling greater specialization and broader participation across a variety of high-margin, specialty calibers.

Funded from available liquidity, this transaction is expected to be immediately accretive to Olin's shareholders, delivering incremental expected first-year adjusted EBITDA of $10 to $15 million, including synergies realization, leveraging Winchester's industry-leading economies of scale, raw material sourcing, and our projectile, primer, and loading capabilities. Once fully integrated, this acquisition is expected to yield adjusted EBITDA of $40 million per year with full realization of synergies.

"During our recent Investor Day, we committed to our capital allocation framework," said Olin's President and CEO, Ken Lane. "Like the White Flyer acquisition in 2023, this acquisition furthers our Winchester strategy to identify and secure small, bolt-on opportunities that are highly strategic and immediately accretive to Olin. By year three, we expect to have paid one and a half times adjusted EBITDA for these world-class assets."

Brett Flaugher, President of Winchester Ammunition, noted, "The specialization of the Manitowoc facility will expand our reach into higher-value commercial, as well as international military and law enforcement calibers, while deepening our near full integration across the ammunition value chain.  This shift enables our larger, legacy plants to focus on high-volume products and growing our cost advantage."