Kelowna's personal armour manufacturer Pacific Safety Products Inc. (TSX-V:PSP) has acquired Ventura, California-based Gator Hawk Armor Inc. for an undisclosed sum.
Gator Hawk provides soft armour products to state, county and local law enforcement agencies in the U.S.
The acquisition by Pacific Safety's Sentry Armour Systems U.S. subsidiary will increase Pacific Safety's presence in the U.S. market and contribute to the company's U.S. sales. As part of the agreement, Gator Hawk will still sell products under its product and brand names.
Thomas Wylie, president of Gator Hawk, will remain as president of the company following completion of the deal, which is expected on April 30, subject to U.S. Federal Court approval.
Pacific Safety's stock price range in the past week: between $1.07 and $1.11; 52-week high: $1.37; 52-week low: $0.76.