Vista OutdoorNYSE: VSTO

Vista Outdoor's Revelyst inks a deal to be acquired by Strategic Value Partners, positioning the company to enhance its market presence and drive long-term profitability.

Shares of Vista Outdoor (VSTO, Financial) surged by 10.14% today, buoyed by the company's announcements of two significant business deals. Vista Outdoor has entered into an agreement to sell its Revelyst business to Strategic Value Partners for $1.125 billion, and it has amended its agreement with the Czechoslovak Group, raising the acquisition price for The Kinetic Group to $2.225 billion.

Vista Outdoor has announced a deal to sell its two divisions for $3.4 billion. It is set to sell Revelyst, its sporting goods business, for around $1.13 billion.

ANOKA, Minn.--(BUSINESS WIRE)--Vista Outdoor Inc. (“Vista Outdoor” or “the Company”) (NYSE: VSTO) today announced it has entered into a definitive agreement with funds managed by Strategic Value Partners, LLC, and its affiliates (“SVP”), a global alternative investment firm with approximately $19 billion of assets under management, to sell Revelyst in an all-cash transaction based on an enterprise value of $1.125 billion (the “SVP Transaction”). In connection with the SVP Transaction, Vista Out.

Vista Outdoor on Friday agreed to sell itself in parts to two separate buyers for a total of $3.35 billion, including debt, after fending off a hostile suitor that pursued the sporting goods and ammunitions maker for months.

Remains Committed to Supporting the Best Outcome for All Vista Shareholders  Encourages Vista to Negotiate an All-Cash Transaction for the Entire Company Given Fully-Taxable Nature of CSG Proposal as well as the Execution Risk in Achieving Revelyst Projections and the Reduced Scale of the Remaining Revelyst NEW YORK , Sept. 24, 2024 /PRNewswire/ -- Gates Capital Management, Inc. ("Gates Capital Management" or "we"), an event-driven alternative asset manager that beneficially owns 5,589,041 shares of common stock, or approximately 9.6%, of Vista Outdoor, Inc. ("Vista" or the "Company") (NYSE: VSTO), today issued a statement encouraging Vista to finalize negotiations for an all-cash offer for the Company and reiterating its intention to vote AGAINST the proposed sale of The Kinetic Group to the Czechoslovak Group a.s.

ANOKA, Minn.--(BUSINESS WIRE)--Vista Outdoor Inc. (“Vista Outdoor”, the “Company”) (NYSE: VSTO) today announced that its Board of Directors sent a letter to stockholders urging them to vote “FOR” the value maximizing transaction with Czechoslovak Group a.s. (“CSG”) to acquire The Kinetic Group and invest in Revelyst at the September 27th special meeting of stockholders. The full text of the letter sent to stockholders follows: Dear Vista Outdoor Stockholders, The September 27th special meeting.

ANOKA, Minn.--(BUSINESS WIRE)--Vista Outdoor Inc. (“Vista Outdoor”, the “Company”) (NYSE: VSTO) today issued the following statement from the Company's Chairman of the Board, Michael Callahan: We are committed to continuing to explore all opportunities to maximize the value of Revelyst, including a potential sale. Since September 15th, we have been in active dialogue with the private equity firm partnered with MNC Capital, separate and apart from MNC, and are committed to considering any offers.

Vista Outdoor (VSTO) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $1.12 per share a year ago.