Vista Outdoor, Inc. is reporting the completion of the sale of the company’s ammo business, also known as The Kinetic Group, to Czechoslovak Group a.s. (CSG), following receipt of stockholder approval at the company’s special meeting of stockholders on November 25.

Under the terms of the merger agreement for the CSG Transaction, 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 Vista Outdoor, Inc. “We are confident our leading ammunition brands will be well positioned under CSG’s ownership given its expertise in supply chain management and ammunition manufacturing, along with its shared commitment to expanding U.S. manufacturing and supporting NATO and allied nations. We also believe the transaction will create new opportunities for our dedicated employees and position The Kinetic Group for future growth and success.”

“We are pleased to complete the transaction with Vista Outdoor and look forward to welcoming The Kinetic Group’s talented team to the CSG family,“ said Michal Strnad, CEO of the Czechoslovak Group a.s. “The Kinetic Group has a strong portfolio of leading ammunition brands, and we are confident our partnership will drive continued growth and innovation as we deliver high-quality ammunition products to customers and create long-term value together.“

Revelyst Sale on Track to Close by January 2025
In other Vista news, the company’s Outdoor Products segment, also known as “Revelyst,” will begin trading on the NYSE on Wednesday, November 27, under the ticker “GEAR.”

On October 4, 2024, Vista Outdoor 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, subject to the receipt of necessary regulatory approvals and satisfaction of other customary closing conditions.

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.”

Morgan Stanley & Co. LLC is acting as sole financial adviser to Vista Outdoor. Cravath, Swaine & Moore LLP is acting as legal adviser to Vista Outdoor. Moelis & Company LLC is acting as sole financial adviser to the independent directors of Vista Outdoor. Gibson, Dunn & Crutcher LLP is acting as legal adviser to the independent directors of Vista Outdoor.

Image courtesy Vista Outdoor, Inc./Revelyst