Vista Outdoor, Inc. reported the sale of the assets of Fiber Energy Products, the company’s wood pellet manufacturer, to Lignetics, Inc., based in Broomfield, CO. Fiber Energy was a component of Vista’s Revelyst outdoor products segment.
Fiber Energy began manufacturing 100 percent all-natural wood pellet fuel in 2006. Over time, it has become a manufacturer of BBQ and grilling pellets and premium hardwood and softwood heating pellets in the Midwest and southern U.S.
The sale of Fiber Energy is reportedly integral to Revelyst’s ongoing Gear Up transformation. The strategic divestiture allows the company to rebalance its portfolio and focus on its highest-value brands and most profitable segments to drive future growth.
“Lignetics is the right partner at the right time for Fiber Energy,” said Jordan Judd, president of Revelyst. “Lignetics’ ownership of Fiber Energy will provide the resources and scale that will enable Fiber Energy to reach its full potential while the sale generates cash for Revelyst that can be reinvested in our power brands and product innovation in support of our Gear Up growth initiative.”
Baird served as the exclusive financial adviser. Reed Smith LLP served as legal adviser to Revelyst on this transaction.
Image courtesy Vista Outdoor
