Ravin Crossbows is on the move. Not only has the innovative crossbow manufacturer changed hands, it's about to move into one of Superior's most visible vacant buildings: the former Target at 3535 Tower Ave.
After three years and a number of expansions, the Superior-based business has run out of room at the Mariner Mall.
"With the growth of the company, we need more space," Vice President Jay Engstrom said.
The approximately 85,000-square-foot Target building offers nearly double its current space.
"The plan is to fill it up," Engstrom said.
The move, set to take place at the end of the year, will be done under new owners. Employees learned last week that the business has been sold to Velocity Outdoor Inc.
Velocity has several brand names under its umbrella, including Crosman and Benjamin Airguns as well as Centerpoint Archery.
"One of the reasons we wanted to work with them is their commitment to Superior," said Engstrom, one of the former Ravin owners. "They're going to continue to grow the company in Superior."
He said Velocity has signed a long-term lease for the Target building, which has been vacant since January 2016.
It's been about two years since Ravin Crossbows brought its technologically-advanced crossbows and accessories to market. The company now employs 125 and ships to retailers throughout the nation and to international markets in Europe, Canada and South Africa.
According to a press release from Velocity's parent company, Compass Diversified Holdings of New York, Ravin Crossbows reported a net revenue of approximately $46 million from June 30, 2017, to June 30, 2018.
Engstrom said the innovations Ravin introduced were something the industry had never seen before.
"We looked at likes and dislikes within the crossbow world and what was on the market," Engstrom said. "We thought we could address all the dislikes."
The sale to Velocity is an exciting new phase for the manufacturer.
"We're proud to be in Superior," Engstrom said. "We plan on staying here, growing the company with the help of the city, community and all the employees."