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Smith & Wesson (SWHC) Stock Gains on Taylor Brands Acquisition

NEW YORK (TheStreet) -- Shares of Smith & Wesson (SWHC) are up 1.76% to $28.85 in early-morning trading on Monday after its accessories unit, Battenfield Technologies, agreed to acquire knife maker Taylor Brands for $85 million in cash.

The acquisition will help the firearms manufacturer grow its accessories division by "expanding into adjacent and complementary markets," Smith & Wesson CEO James Debney said in a statement.

The transaction is expected to close within three to six weeks and won't impact the 2017 first quarter ending...