, the offer from MNC is financially superior to the previous acquisition offer that Vista Outdoor received. In MNC's mind it's also better for the Outdoor Products division than going public.){kind=link}
Camp Chef’s parent company, Vista Outdoor, has been on a path to sell their Sporting Products division and keep their Outdoor Products division (where Camp Chef sits) public. It has been an eventful journey so far though. They’ve rejected an offer to buy their company previously, and now they’re in the process of evaluating another.
This one comes from the investment firm MNC Capital Partners, which has a history with Vista Outdoor. MNC’s Mark Gottfredson was a former board member of Vista Outdoor.
At about $2.9 billion ($35 per share), the offer from MNC is financially superior to the previous acquisition offer that Vista Outdoor received. In MNC’s mind it’s also better for the Outdoor Products division than going public.
The announced divestiture of the Sporting Products business provides limited liquidity and certainty to public Vista shareholders, leaving Outdoor Products as a subscale public company undergoing a critical multi-year turnaround plan. We strongly believe the next stage of Outdoor Products’ growth and development is best pursued and accelerated as a private company.
Mark Gottfredson, MNC Capital
Vista Outdoor’s Board of Directors acknowledge receipt of the offer today, and are in the process of evaluating it to determine how to proceed.