MOGADORE, Ohio — Rick Bednar, chairman, president and CEO of TenPoint Crossbow Technologies, has announced that his company purchased selected assets of former competitor, Horton Archery LLC, Kent, Ohio, effective July 1.
“Recently it appeared that Horton’s ability to operate deteriorated,” Bednar said, in a press release.
“The company released most of its employees in April, and its primary creditor finally took possession of all Horton’s assets, and closed its doors. We have purchased machinery, equipment, and other selected assets, including trademarks, licenses, and the rights to the Horton name from the secured creditor.
“It is important to understand that we did not purchase the Horton Archery LLC operation. That operation no longer exists, and TenPoint will not continue making or servicing any of Horton's current or past bow models.
“Our research made it clear that it was neither functionally nor financially prudent to resume the Horton manufacturing and servicing operations. We intend to spend the months ahead creating a new company with a new lineup worthy of the storied Horton name.
“We expect to reintroduce the new company as soon as it is feasible. While that effort is under way, we will continue to remain focused on managing TenPoint and our subsidiary, Wicked Ridge Crossbows.”