Vista Outdoor Inc. (“Vista Outdoor” or “the Company”) (NYSE: VSTO) announced today the completion of the sale of The Kinetic Group to Czechoslovak Group a.s. (“CSG”) (the “CSG Transaction”), following approval by stockholders at a special meeting on November 25, 2024. According to the terms of the merger agreement, Vista Outdoor stockholders will receive $25.75 in cash and one share of Revelyst common stock for each share of Vista Outdoor common stock they hold.
“The completion of our sale of The Kinetic Group to CSG marks a significant milestone for our company and represents the successful culmination of our Board’s tireless efforts and robust process to deliver maximum value for stockholders,” said Michael Callahan, Chairman of the Vista Outdoor Board of Directors. “We are confident that our leading ammunition brands will thrive under CSG’s ownership, given its expertise in supply chain management and ammunition manufacturing. This partnership also supports our shared commitment to expanding U.S. manufacturing and strengthening NATO and allied nations, while creating new opportunities for our dedicated employees and positioning The Kinetic Group for future growth and success.”
“We are pleased to finalize this transaction with Vista Outdoor and look forward to welcoming The Kinetic Group’s talented team to the CSG family,” said Michal Strnad, CEO of CSG. “The Kinetic Group has an exceptional portfolio of leading ammunition brands, and we are confident our collaboration will drive continued growth and innovation as we provide high-quality ammunition products to customers and create long-term value together.”
Revelyst Begins Trading on NYSE; SVP Transaction to Close by January 2025
Revelyst will begin trading today on the New York Stock Exchange under the ticker “GEAR”. On October 4, 2024, Vista Outdoor entered into a definitive agreement with funds managed by Strategic Value Partners, LLC (SVP) for the acquisition of Revelyst in an all-cash transaction valued at $1.125 billion (the “SVP Transaction”). With the completion of the CSG Transaction, the SVP Transaction is expected to close by January 2025, pending regulatory approvals and other customary closing conditions. Upon closing, Revelyst will cease trading on the NYSE.
“The closing of the CSG Transaction represents another important step toward unlocking the potential of Revelyst with SVP,” said Revelyst CEO Eric Nyman. “We look forward to delivering significant value to our stockholders through the transaction and benefiting from SVP’s investment and expanded resources as we further our market-leading position in the outdoor recreation industry. Until the SVP Transaction closes, we remain focused on advancing our strategic objectives, accelerating our GEAR UP efforts, and delivering innovative, top-tier products to outdoor enthusiasts.”
Morgan Stanley & Co. LLC served as the sole financial adviser to Vista Outdoor, with Cravath, Swaine & Moore LLP acting as legal adviser to Vista Outdoor. Moelis & Company LLC acted as sole financial adviser to the independent directors of Vista Outdoor, and Gibson, Dunn & Crutcher LLP provided legal counsel to the independent directors.
About Vista Outdoor Inc.
Vista Outdoor (NYSE: VSTO) is the parent company of more than three dozen renowned brands that design, manufacture, and market sporting and outdoor products. Its brands include Bushnell, CamelBak, Fox Racing, Bell Helmets, Camp Chef, Giro, Federal Ammunition, Remington Ammunition, and many others. The company’s reporting segments—Outdoor Products and Sporting Products—offer a wide range of performance-driven, high-quality, and innovative outdoor and sporting products.
