American Outdoor Brands Corporation will change its name to Smith & Wesson Brands on June 1 as it prepares to focus on firearms, spinning off its business with outdoor products and accessories. The spin-off is set to take place in late summer through a tax-free distribution of shares in a new independent company, called American Outdoor Brands, to the group’s shareholders. This company will continue to provide specialty tools and cutlery for outdoor activities as well as shooting, reloading, gunsmithing and gun cleaning supplies for firearms.