At the start of the 2023 SHOT Show, Tennessee-based gunmaker Barrett Firearms announced it has been acquired for an undisclosed sum by the global munitions company NIOA Group. NIOA has locations around the world and is primarily based in Australia.
In a joint statement, NIOA’s chief executive officer Robert Nioa explained the two companies not only share the same values but have also been working together since 2008.
“We have been inspired by the story of Barrett and admire what Ronnie, Chris, and the family have built over more than four decades,” Nioa said. “It’s been a story of hard work, perseverance, and purpose culminating in the delivery of critical capability for the men and women of the US military and its allies around the world as well as exceptional products to law enforcement agencies and civilian markets.”
While Barrett has earned acclaim for building .50-caliber and tactical rifles, the company is primarily known as a defense contractor. For decades, Barrett has supplied U.S. and foreign militaries with weapons such as the M82 .50-caliber sniper rifle. More recently, though, the U.S. Army awarded more than $50 million in contracts to Barrett for the Multi-Role Adaptive Design (MRAD) rifle.
The Australian-based NIOA Group is the largest supplier of guns and ammo in Australia and New Zealand. In addition to now owning Barrett, the company has a number of other arms-related ventures and government contracts.
According to the announcement, Barrett’s founder Ronnie Barrett and his son, Chris Barrett, will take on advisory roles while long-time executives fill those spots on the executive team. Additionally, NIOA plans to expand Barrett’s Murfreesboro, Tennessee, facility.
“It’s reassuring to know Barrett will be in good hands with a family-owned company that is focused on manufacturing and delivering world-class firearms and munitions to a global network,” Ronnie Barrett said.