Smith and Wesson announced on Wednesday that it acquired Savage Arms, an American company that manufactures hunting firearms. Savage Arms has produced centerfire and rimfire rifles plus shotguns for hunting, competition and target shooting since 1894.

The purchase unites two U.S. firearm firms with strengths in separate market areas, pairing Savage hunting and bolt-action rifles with Smith and Wesson’s handgun leadership and expanding long-gun offerings. Mark Smith, the president and chief executive, described the deal as a key advance in becoming the top firearms company and noted it grows the hunting category while creating a larger platform for customer service, faster innovation, operating savings and long-term stockholder gains.