MNC Capital has made a revised offer to acquire Camp Chef’s parent company, Vista Outdoor. The new offer values Vista Outdoor at $37.50 per share, or approximately $3.0 billion, which is about $100 million more than their previous offer.
Previously, Vista Outdoor rejected MNC’s offer because they didn’t feel it fairly valued their Outdoor Products division. Vista also objected because they didn’t receive a commitment letter showing that MNC has access to the $1.4 million in debt they planned to use to help finance the deal.
MNC expects Vista to promptly engage and agree to MNC’s proposal, which is clearly in the best interest of Vista’s shareholders and employees. MNC is confident that Vista, including its current management and employees, will have a bright future as a private company, and it appreciates the complementary portfolio of brands and assets within The Kinetic Group and Revelyst. MNC Capital is deeply invested in the welfare of Vista’s employees, their families, and the broader communities across the United States and beyond.
MNC Capital Partners
MNC has said with their new offer that the transaction wouldn’t be subject to a financing contingency, and they’ve delivered details of their financing to Vista Outdoor. Their offer also isn’t subject to clearance from the Committee on Foreign Investment in the United States (CFIUS), which is a benefit over the sale that Vista is currently pursuing to sell their Sporting Products division to a Czech company.