, and investment firm SVP buying Revelyst (Vista’s outdoor brands including Camp Chef).){kind=link}
The saga of the Vista Outdoor sale process appears to be nearing a close. The likely outcome is CSG buying the Kinetic Group (Vista’s shooting brands), and investment firm SVP buying Revelyst (Vista’s outdoor brands including Camp Chef).
The Board has worked tirelessly to deliver maximum value to its stockholders, and we are pleased to have reached this agreement with SVP and CSG which helps us achieve that objective. The Board engaged in a thorough process to identify the best avenues to unlock value – and through these two separate, but contingent, transactions with SVP and CSG, we have identified a path that reflects the true strength and potential of both Revelyst and The Kinetic Group.
Michael Callahan, Chairman of the Vista Outdoor Board of Directors
Last we heard Vista was working on a deal to sell Revelyst in conjunction with the sale to CSG, but there were still some outstanding issues. Those issues were resolved, and Revelyst will fetch $1.125 billion.
We are excited to partner with SVP and believe this acquisition is a positive step for Revelyst’s future. As I reflect on the last year, I am incredibly appreciative of our management team, our employees and our maker community for getting us here. We couldn’t have done this without everyone’s contribution. I believe the best is yet to come for Revelyst and for our customers, suppliers and retail partners. This partnership with SVP is going to make us a stronger company and afford us more opportunities to innovate and deliver top-tier products to outdoor enthusiasts while enhancing our market leadership in the outdoor recreation industry.
Revelyst CEO Eric Nyman
Previously, CSG had agreed to buy 7.5% of Revelyst for $150 million as part of their purchase agreement. The updated deal does away with the Revelyst investment, but has them paying $2.225 billion for the Kinetic Group.
Timing
The sale of Revelyst to SVP is contingent on the closing of the Kinetic Group with CSG, which is slated to happen by the end of the year. Vista plans on subsequently closing on the Revelyst sale by January 2025.
We look forward to working with Eric Nyman and the rest of the team leading this world-class outdoor gear and technology business. For almost a year, we closely followed Revelyst’s progress with this complex transaction. During that time, Revelyst has gained share through a difficult period for consumer spending thanks to the strength of its leadership, its employees and efforts like GEAR UP. With this investment, we plan to put SVP’s full operating resources and network behind Revelyst to help accelerate the success of this market leader.
David Geenberg, Head of North American Corporate Investments at SVP