From the coronavirus to social unrest to the insane presidential election, 2020 proved one for the books. But for the 2A community, the 2020 run on gun and ammunition will remain memorable from a truly historic year. AMMO, Inc capitalized on 2020 in a big way, recently announcing its bid to acquire GunBroker.com for $240 million.
AMMO Inc Goes After GunBroker.com
On Feb. 4 AMMO, Inc., announced a record year in sales. The company enjoyed mind-boggling 256-percent year-over-year increase in orders last year. The ammo push led to a record-setting $180 million in booked orders. Innovative products, including Streak Ammunition and Jesse James-branded lines continue to draw praise.
“We continue to strategically and effectively increase our order intake, manufacturing and shipping capacity in an effort to address the continuing escalating demand being received across all channels, as our record backlog continues to grow,” said Fred Wagenhals, AMMO Chairman and CEO. “We are now seeing global demand for loaded ammunition and components increase, and we continue to add new key retail distribution customers such as BIG 5 and Midsouth Shooters Supply and others.”
Now AMMO, Inc., looks to take that record-setting year and go even bigger. It recently entered into a non-binding letter of intent (LOI) to acquire GunBroker.com. The website, owned by IA Tech LLC, remains the largest online firearm auction marketplace.
“We founded AMMO to be a disruptive technology-based company that could serve the shooting community with cutting-edge ammunition offerings, whether that be for the military, law enforcement, hunting or recreational shooting communities,” Wagenhals said. “Steve Urvan had the foresight and entrepreneurial drive to start GunBrokers.com more than 20 years ago with the same spirit and vision. With his drive and intimate understanding of how to serve our collective market, Steve created the world’s largest online marketplace for the purchase and sale of firearms, ammunition, and accessories.”
GunBroker.com boats an incredible six million registered users. The site also brought in an estimated $60 million in revenue in 2020. The Ammo GunBroker.com deal would finalize around March 31. For even more info, please visit ammoinc.com.