Nioa seizes the initiative with Barrett buyout
Australian Army snipers will soon be equipped with M107A1 long-range rifles from Barrett. (Photo: Barrett Firearms)
Nioa establishes itself as a firearms manufacturer in the US with a takeover of Barrett.
Australian privately owned defence firm Nioa announced on 17 January that it had acquired the American specialist company Barrett Firearms.
This takeover gives Nioa a 100% stake in Barrett, a company renowned for its long-range, large-calibre rifles used by more than 75 nations worldwide.
No financial details relating to the deal have been released.
Barrett Firearms will continue to operate under its own name, and Nioa declared, ‘All management and staff at the Murfreesboro manufacturing facility in Tennessee have been retained and production will continue as normal.’
It also expressed an expectation that manufacturing in Murfreesboro will further expand.
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