A Manitowoc manufacturer looks to be selling one of its divisions.
The Manitowoc Common Council approved a land lease-purchase agreement for Olin Winchester to purchase the ammunition division of Ammo Inc.
Agenda documents show that last month, Ammo entered into a purchase agreement with Olin Winchester to sell the division, which includes the transfer of facilities, equipment, inventory, and other contractual obligations.
It will cost Olin $75 million and includes 240 manufacturing employees.
According to Ammo General Counsel Jordan Christensen, Olin Winchester is one of the most respected and long-standing manufacturing facilities and has a strong record of investment.
With the purchase agreement, Olin is committed to the long-term success of the Manitowoc facility and continued contributions to the local economy.
With the common council’s approval, the Olin Winchester would take over a previous land lease agreement approved in 2023.
Ammunition at Ammo Inc. will be focused on rifle and pistol calibers.
The transaction is scheduled to close in the second quarter of 2025.
