On November 27, Vista Outdoor, Inc. sold the company’s ammo business, also known as The Kinetic Group, to Czechoslovak Group (CSG). Under the terms of the merger, 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. Meanwhile, the company’s Outdoor Products segment, also known as “Revelyst,” began trading on the NYSE on Wednesday, November 27, under the ticker “GEAR.”
Back on October 4, Vista Outdoor — which includes Bell Helmets, Fox, Giro and QuietKat — entered into a definitive agreement under which funds managed by Strategic Value Partners, LLC (SVP) will acquire Revelyst in an all-cash transaction based on an enterprise value of $1.125 billion. With the successful completion of the CSG Transaction, the SVP Transaction is expected to close by January 2025. Following the closing of the SVP Transaction, Revelyst will cease trading on the New York Stock Exchange.
“The closing of the CSG Transaction represents another important step towards 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 benefitting 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.”
