Vista Outdoor received shareholder approval to sell their shooting brands, known as the Kinetic Group, to GSG. It was a major step in final stretch of selling their business in two separate chunks.
We are thrilled to have received overwhelming support from our stockholders for the compelling transaction with CSG. The CSG transaction maximizes value for our stockholders, while also providing an ideal home for our leading ammunition brands and significant opportunities for our employees.
Michael Callahan, Chairman of the Vista Outdoor Board of Directors
The shareholder vote was overwhelmingly in favor of the transaction, with 97.89% of votes being for the transaction. Once the transaction is finalized, shareholders will receive $25.75 in cash and one share of Revelyst common stock for each share held of Vista Outdoor.
Revelyst is the holding company for all of the outdoor brands under Vista Outdoor, including Camp Chef. Once the Kinetic Group is sold, it clears the way for Revelyst to also be sold to investment firm Strategic Value Partners (SVP) for $1.125 billion. No additional approval is needed for the Revelyst transaction, and it’s expected to close in January 2025.
It will be a major change for all of the Revelyst brands, but one that hopefully brings additional innovation. Acquisitions take time and money away from running a business, so it we’ll see how Camp Chef evolves once the transaction is behind them.
They have a unique and innovative product with the Woodwind Pro pellet grill, but that was released over two years ago. Outside of a collab with Guy Fieri, they haven’t released a new grill or smoker since the XXL Pro vertical smoker in spring of 2023.