10-21-2023, 10:21 PM
Vista Outdoor Inc. (NYSE: VSTO) (Vista Outdoor), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor products to consumers around the globe, today announced a definitive agreement to sell its Sporting Products business to Czechoslovak Group a.s. (CSG) for an enterprise value of $1.91 billion in an all-cash transaction subject to customary closing conditions. This transaction represents the next step in Vista Outdoors plan to split the company into separate entities, which was previously announced on May 5, 2022.
CSG is a leading industrial technology holding company, operating within five strategic business segments, including defense, aerospace, ammunition, mobility and business. CSG is 100% owned and led by Michal Strnad, who has transformed it into a leading Czech industrial group with a strong international footprint. CSG employs more than 10,000 people worldwide and it owns and manages a diverse portfolio of industrial and trade companies across the defense and civil sectors.
This is an important strategic step for our company in creating value through separating our Outdoor Products and Sporting Products segments, said Gary McArthur, interim CEO of Vista Outdoor. The previously announced plan to separate our businesses has positioned us to execute seamlessly on this transaction, which we believe is the best path to maximize value for our stockholders, while better positioning Sporting Products and Outdoor Products for future success.
We are confident that CSG is a great home for our leading ammunition brands, said Jason Vanderbrink, CEO of Sporting Products. The company is fully committed to our iconic American brands and expanding our legacy of U.S. manufacturing, support for military and law enforcement customers, and investments in conservation and our hunting and shooting heritage. We are excited to work closely with the CSG team as we enter this next phase and position our brands for long-term success.
CSG is a leading industrial technology holding company, operating within five strategic business segments, including defense, aerospace, ammunition, mobility and business. CSG is 100% owned and led by Michal Strnad, who has transformed it into a leading Czech industrial group with a strong international footprint. CSG employs more than 10,000 people worldwide and it owns and manages a diverse portfolio of industrial and trade companies across the defense and civil sectors.
This is an important strategic step for our company in creating value through separating our Outdoor Products and Sporting Products segments, said Gary McArthur, interim CEO of Vista Outdoor. The previously announced plan to separate our businesses has positioned us to execute seamlessly on this transaction, which we believe is the best path to maximize value for our stockholders, while better positioning Sporting Products and Outdoor Products for future success.
We are confident that CSG is a great home for our leading ammunition brands, said Jason Vanderbrink, CEO of Sporting Products. The company is fully committed to our iconic American brands and expanding our legacy of U.S. manufacturing, support for military and law enforcement customers, and investments in conservation and our hunting and shooting heritage. We are excited to work closely with the CSG team as we enter this next phase and position our brands for long-term success.
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CCW, CQM, DM, Long Range Rifle Instructor
6.5 Grendel Reloading Handbooks & chamber brushes can be found here:
www.AR15buildbox.com
