Smith & Wesson M76 Smith & Wesson M76 The Smith & Wesson M76 submachine gun was produced by Smith & Wesson from 1967 to 1974. It is an adaptation of the Swedish Carl Gustav m/45 with an open bolt design and fires 9x19mm Parabellum ammunition. In 1966, the Swedish government blocked the sale of firearms to the United States because it opposed the Vietnam War. This created a problem for the Navy SEAL Teams which were using Swedish-made m/45 submachine guns in covert operations in Southeast Asia. Noting this, Smith & Wesson began to produce the M76 (an m/45 clone), which was ready for
Smith & Wesson bought Crimson Trace, a laser-sight manufacturer, for $95 million and Taylor Brands, a tool and knife maker, for $85 million. In November of that same year the company bought UST Brands, a survival equipment maker, for $32.3 million. On November 7, 2016, Smith & Wesson announced that it would be changing the name of its holding company to American Outdoor Brands Corporation. In 2017 Smith & Wesson saw a severe contraction in its sales as units shipped to distributors and retailers declined 38.3%. The company was forced to lay off one-fourth of its manufacturing workforce. The company has come under