Release Date: For Immediate Release
BowTech Expands With Gem of an Acquisition
EUGENE, OR September 27, 2004
— Established as the industry leader with its premier line of bows and archery accessories, BowTech has entered a new market niche with its recent acquisition of Diamond Archery of Shreveport, LA. Diamond Archery has manufactured reliable, mid-range priced compound bows since 1996, and now provides a strategic expansion to BowTech's plan for growth.
"The Diamond deal is the next logical step for BowTech as we strive to reach a broader audience," says John Strasheim, the CEO of BowTech. "This acquisition provides the capability to go after a portion of the bowhunting market that we've never touched, without annoying key pro shop partners which rely on the more exclusive high-end BowTech brand of products."
The new Diamond line, re-designed by BowTech, will feature the benefits of accuracy and forgiveness, qualities that translate to immediate gratification for the average bowhunter seeking success. With price points starting at $399, the new Diamond models possess a high-perceived value for the extraordinary quality received.
"We are excited about the opportunity this acquisition gives to our existing dealers," stated Diamond Archery's Josh Halbert Jr. "The increased marketing and brand awareness BowTech brings to the table will provide dealers with the opportunity to experience continued prosperity with the Diamond line."
BowTech will introduce three models to comprise the starting lineup for Diamond in 2005: the Rapture ($399), the Triumph ($499), and the Victory ($599). The Victory will be available in either single or dual cam configurations. All will feature Mossy Oak New Break Up camouflage finish.
Unlike the BowTech brand, which will continue to be available through archery pro shops and authorized dealerships, the Diamond brand will also be distributed through mass merchandisers and sporting goods stores. The move gives BowTech an opportunity to reach into the mid-range price points of the bowhunting market while providing a second channel of distribution without having to risk harming the premium image of BowTech brand products.
BowTech, (www.bowtecharchery.com), manufacturer and distributor of the world's finest compound bows and archery equipment, was founded in 1999 by CEO, John Strasheim and VP of Research and Development, Kevin Strother. BowTech is the fastest growing bow company in history, increasing annually from its first model year in 2000, to the fourth largest bow company in the world.