Smith & Wesson to relocate HQ to Maryville, TN by 2023; $120M investment, EPS accretion $0.10-$0.12/yr

SMITH & WESSON BRANDS, INC.

Relocation from Springfield, MA to Maryville, TN; total investment $120M funded from cash on hand; expected to add $0.10-0.12 to EPS annually when fully operational.
Approximately 750 jobs to move; new facility will house HQ, plastic injection molding, pistol/long gun assembly, and distribution.
Springfield facility will be reconfigured but remain operational with over 1,000 employees; Deep River, CT and Columbia, MO facilities to be closed/sold.
Project agreement requires creating at least 620 jobs at avg. wage $25.97/hr and spending at least $120M by Dec 2025; contingent on de-annexation/annexation by Apr 2022.
Move triggered by proposed MA legislation restricting manufacturing of firearms that made up over 60% of revenue; company cites need for business-friendly environment.

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