Think the 2016 U.S. presidential election was a shocker? So is the news that Smith & Wesson Holding Corporation, the parent company of brands like Smith & Wesson, Crimson Trace Corporation, and Thompson/Center Arms, is changing its name to American Outdoor Brands Corporation. The proposed name change has been approved by the company’s board of directors and reflects the company’s expanding strategic focus on the growing markets for shooting, hunting, and rugged outdoor enthusiasts.

The rationale for the name change was laid out in a November 7 press release, with S&W President/CEO James Debney saying:

“By executing on our strategy to be a leader in the shooting, hunting, and rugged outdoor enthusiast markets, we have successfully grown from a single operating division to four operating divisions that serve a large addressable market and represent more than eighteen respected consumer brands. We believe the name ‘American Outdoor Brands Corporation’ will better reflect our family of brands, our broad range of product offerings, and our plan to continue building upon our portfolio of strong American brands.

“Looking forward, we intend to aggressively grow organically and through strategic acquisitions, focusing on brands and products that best meet the needs and lifestyle of our target consumers.”

While the name change has been approved by the board of directors, it must still be approved by the stockholders at a December 13 meeting. If approved, it would then take effect on or about January 1, 2017, with the company’s NASDAQ stock exchange symbol likely changing from “SWHC” to “AOBC.”

The name change would affect the holding company, but Smith & Wesson brand products will still bear that name.

Smith & Wesson Holding Corporation is divided into two segments: Firearms and Outdoor Products & Accessories. Firearms manufactures handgun and long gun products sold under the Smith & Wesson, M&P, and Thompson/Center Arms brands, as well as providing forging, machining, and precision plastic injection molding services. Outdoor Products & Accessories provides shooting, hunting, and outdoor accessories, including reloading, gunsmithing, and gun cleaning supplies, tree saws, vault accessories, knives, laser sighting systems, and tactical lighting products.

Brands in Outdoor Products & Accessories include Smith & Wesson, M&P, Thompson/Center Arms, Crimson Trace, Caldwell Shooting Supplies, Wheeler Engineering, Tipton Gun Cleaning Supplies, Frankford Arsenal Reloading Tools, Lockdown Vault Accessories, Hooyman Premium Tree Saws, BOG POD, and Golden Rod Moisture Control, as well as knives and specialty tools under Schrade, Old Timer, Uncle Henry, and Imperial.