Australian defense firm NIOA announced Tuesday that it has acquired American weapons supplier Barrett Firearms.
The Brisbane-based company is taking over all operations of the American firm in the 100-percent acquisition.
NIOA stated that the two family-owned companies came together “out of a shared commitment to quality, innovation, loyalty, and mission.”
Company official Robert Nioa said that Barrett will continue to operate under the same brand and as a separate division within the NIOA Group.
“Together we share the same mission — combining our expertise and family business values will ensure Barrett carries on building the finest products in the world,” he stressed.
Barrett currently has a contract to deliver Mk22 Mod 0 advanced sniper rifles to the US military.
NIOA has appointed several officials from Barrett Firearms to ensure a smooth acquisition.
Current Barrett President Sam Shallenberger has been promoted to Chief Executive Officer, while long-serving Barrett Chief Operating Officer Bryan James now becomes President.
Both Ronnie and Chris Barrett have also been tapped to provide ongoing support as executive advisers.
“Today marks the beginning of a new chapter in the Barrett story. Rob and the NIOA team have great respect for the legacy Barrett has created as the leader in long-range precision rifles,” Barrett founder Ronnie Barrett said.
“It’s reassuring to know Barrett will be in good hands with a family-owned company that is focused on manufacturing and delivering world-class firearms and munitions to a global network.”