Across the pond
Excise tax increases on firearms and ammunition
The US Department of the Treasury has reported a modest increase in excise tax obligations for firearm and ammunition manufacturers for the first quarter of 2024. The figures, showing a 2.1 percent increase over the previous year, suggest robust sales in the sector. This period witnessed tax obligations amounting to $249.06 million with breakdowns of $80.1 million for pistols and revolvers, $81.1 million for other firearms/long guns, and $87.9 million for ammunition. The rising tax figures are reflective of a thriving market, which in turn, is projected to have reached sales around $2.3 billion during the quarter.
Sale of GSM Outdoors
In a significant business move, Gridiron Capital announced the sale of its controlling interest in Good Sportsman Marketing Outdoors (“GSM Outdoors”) to Platinum Equity. GSM Outdoors, recognized as a leader in the outdoor enthusiast industry, has expanded notably under Gridiron’s ownership since 2020, venturing into new markets and enhancing its product offerings through strategic acquisitions and organic growth. This transition marks a pivotal moment for GSM, promising continued innovation and expansion in the outdoor sectors.
Legal developments for the NRA
The National Rifle Association of America (NRA) has withstood a significant legal challenge from New York Attorney General Letitia James, which sought to impose a compliance monitor over its operations. The New York State Supreme Court, however, has denied this request, urging instead that the NRA and NYAG collaborate on further governance reforms. The decision comes after a protracted legal battle that began with attempts to dissolve the NRA. This outcome not only allows the NRA to maintain its current structure but also sets the stage for future governance improvements aimed at enhancing organizational integrity.
Expansion of hunting on public lands
The U.S. Fish and Wildlife Service (USFWS) announced an expansion of hunting and fishing opportunities across National Wildlife Refuges, adding 53 new opportunities over 211,000 acres. This development has been applauded by the National Shooting Sports Foundation (NSSF), emphasizing the move’s alignment with long-term goals of increasing public access to hunting on federal lands and promoting wildlife conservation. However, the NSSF expressed concerns about restrictions on traditional ammunition, advocating for decisions based on scientific evidence rather than regulatory measures.
Down under
Overhaul of antique firearms laws in Tasmania
In Tasmania, a significant policy revision is underway concerning the regulation of antique firearms. After a sudden cancellation of a long-standing exemption that allowed for the collection of antique firearms, collectors faced stringent options which incited considerable backlash. In response, the Tasmanian government has committed to legislative reforms that would ease these regulations, ensuring collectors can maintain their hobbies without overly burdensome requirements. These proposed changes are set to foster a more balanced approach to firearm antiquity, emphasizing safety while accommodating the interests of collectors.
Mainland Europe
Leadership changes in the Yukon Group
In corporate news from Europe, the Yukon Group has appointed Stella Stratulat as the new Managing Director of Polaris Vision Systems EU. Since joining the company in 2016, Stratulat has risen through ranks, showcasing her capabilities in managing production and logistics. Her new role will see her steering the Scotland-based subsidiary, which specializes in assembling thermal imaging sights, towards continued growth and operational excellence.
These various events and transitions across the globe reflect ongoing changes in market dynamics, regulatory environments, and leadership within the firearms and outdoor industries. They illustrate not only the financial and corporate shifts occurring but also the broader societal and legal contexts in which these industries operate.
Radek Musil elected to Board of Directors of Colt CZ Group
Radek Musil, CEO of Sellier & Bellot, has been elected to the Board of Directors of Colt CZ Group, effective August 1, 2024. Musil will represent the ammunition segment on the board, bringing his extensive experience and knowledge to the position.
Radek Musil has been a prominent figure in the ammunition industry, serving as the CEO and Chairman of the Board of Directors of Sellier & Bellot since 1999. Under his leadership, Sellier & Bellot has become a key player in the ammunition market, known for its innovation and quality.
Musil’s career began at the Czech company TON, where he gained valuable industry experience. His educational background includes a degree from the Faculty of Nuclear Sciences and Physical Engineering at the Czech Technical University in Prague. He further enhanced his business acumen by graduating from the Thunderbird School of Global Management in Phoenix, USA.
You can read the full September 2024 issue below:
