Vista Outdoor Reports Strong Fourth Quarter Financial Results and Fiscal Year 2024 Financial Results
Retrieved on:
Wednesday, May 8, 2024
Key Points:
NYSE:VSTO
Revelyst Announces Sale of RCBS
Retrieved on:
Thursday, May 2, 2024
Through this transaction, Revelyst found the right home for RCBS with Hodgdon, a market leader in American manufacturing, smokeless powder, clean black powder substitute and now reloading equipment.
Key Points:
- Through this transaction, Revelyst found the right home for RCBS with Hodgdon, a market leader in American manufacturing, smokeless powder, clean black powder substitute and now reloading equipment.
- “Under Hodgdon’s ownership, RCBS can continue its operational excellence, growth and scale across the shooting sports industry.”
The sale is effective immediately. - “Selling RCBS allows us to raise cash to create a more dynamic portfolio for our company’s future,” said Andy Keegan, CFO of Revelyst.
- “Revelyst will use proceeds from the sale to enhance the operational efficiencies of the company’s power brands, evaluate bolt-on acquisitions, and invest in maker-fueled innovation and organic growth.”
Baird served as exclusive financial adviser and Reed Smith LLP served as legal adviser to Revelyst on this transaction.
Revelyst to Reschedule Investor Day
Retrieved on:
Tuesday, April 30, 2024
Revelyst, a collective of world-class maker brands that design and manufacture performance gear and precision technologies and a segment of Vista Outdoor Inc. (NYSE: VSTO), today announced the company will reschedule its Investor Day.
Key Points:
- Revelyst, a collective of world-class maker brands that design and manufacture performance gear and precision technologies and a segment of Vista Outdoor Inc. (NYSE: VSTO), today announced the company will reschedule its Investor Day.
- The change is in light of the Vista Outdoor Board of Directors’ recent decision to adjourn the date of the planned shareholder vote related to outside interest in the company.
- Initially scheduled for Wednesday, May 29, the event will now take place early in the fall at the company’s Adventure Sports headquarters in Irvine, California.
- The presentations will provide an in-depth review of Revelyst’s strategy, key initiatives, business platforms and financial performance.
Revelyst Announces Chief Supply Chain Officer
Retrieved on:
Tuesday, April 23, 2024
The appointment of a seasoned, transformational supply chain, sourcing and logistics leader is key to helping Revelyst and its brands begin this new chapter.
Key Points:
- The appointment of a seasoned, transformational supply chain, sourcing and logistics leader is key to helping Revelyst and its brands begin this new chapter.
- View the full release here: https://www.businesswire.com/news/home/20240423438660/en/
Joe Beck, Chief Supply Chain Officer for Revelyst (Photo: Business Wire)
Beck most recently served as Vice President of Global Supply Chain for embecta (NASDAQ: EMBC), a medical technology company where he oversaw global supply chain and distribution operations, including the overhaul of their global network design, planning, logistics, and trade technology and change management leadership. - During the transition, he helped establish the company’s supply chain infrastructure while ensuring continuity of supply and mitigating customer disruptions.
- His ability to design and deploy global supply chain operations for a standalone business — including hiring talent, building effective teams and developing processes, analytics and technology — made him an ideal candidate to be Revelyst’s first Chief Supply Chain Officer.
Vista Outdoor in Discussions with MNC Capital, Advises MNC to Increase their Offer Price
Retrieved on:
Monday, April 22, 2024
Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) (NYSE: VSTO) today confirmed it is engaging in discussions with MNC Capital (“MNC”) related to its March 25, 2024 unsolicited indication of interest pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $37.50 per Vista share.
Key Points:
- Vista Outdoor Inc. (“Vista Outdoor” or the “Company”) (NYSE: VSTO) today confirmed it is engaging in discussions with MNC Capital (“MNC”) related to its March 25, 2024 unsolicited indication of interest pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $37.50 per Vista share.
- Michael Callahan, Chairman of the Vista Outdoor Board of Directors, said, “The Vista Outdoor Board does not consider MNC’s revised proposal to be superior to the transaction with CSG and continues to believe MNC’s proposed offer price undervalues the Revelyst business.
- Accordingly, the Board has authorized Vista management to provide MNC with non-public information so MNC can increase its offer price.
- Vista Outdoor notes there can be no assurance the discussions with MNC will result in either an increased offer price or any transaction with MNC.
Vista Outdoor to Release Fourth-Quarter and Full-Year Fiscal 2024 Financial Results
Retrieved on:
Wednesday, April 17, 2024
Vista Outdoor Inc. (“Vista Outdoor”) (NYSE: VSTO) today announced plans to report its fourth-quarter and full-year fiscal 2024 financial results on Wednesday, May 8, 2024, after the market closes.
Key Points:
- Vista Outdoor Inc. (“Vista Outdoor”) (NYSE: VSTO) today announced plans to report its fourth-quarter and full-year fiscal 2024 financial results on Wednesday, May 8, 2024, after the market closes.
- Vista Outdoor’s management will host a conference call on Thursday, May 9, 2024, at 9 a.m.
- ET to review results.
- In addition to the results, the company expects to discuss its outlook and financial guidance and may discuss matters of strategy during the call.
CSG Sends Letter to Senator J.D. Vance Addressing His Concerns Regarding Planned Acquisition of Vista Outdoor’s Sporting Products Business, The Kinetic Group
Retrieved on:
Tuesday, April 16, 2024
Vance (R-OH) addressing concerns he raised in a letter to U.S. Treasury Secretary Janet Yellen in connection to CSG’s proposed acquisition of Vista Outdoor Inc.’s (NYSE: VSTO) (“Vista Outdoor”) Sporting Products business – recently renamed The Kinetic Group.
Key Points:
- Vance (R-OH) addressing concerns he raised in a letter to U.S. Treasury Secretary Janet Yellen in connection to CSG’s proposed acquisition of Vista Outdoor Inc.’s (NYSE: VSTO) (“Vista Outdoor”) Sporting Products business – recently renamed The Kinetic Group.
- The full text of the letter can be found below:
In January, you sent a letter to Treasury Secretary Janet Yellen expressing your concerns about the proposed sale of The Kinetic Group, formerly Vista Outdoor’s Sporting Products business, to our company, The Czechoslovak Group (“CSG”). - In your letter, you claimed that CSG is a company with a long record of wrongdoing and well-documented connections to American adversaries.
- That's why we invite you to visit CSG member companies in the U.S. and Europe to experience first-hand who we really are.
The Czechoslovak Group Highlights the Benefits of Its Planned Acquisition of Vista Outdoor’s Sporting Products Business, The Kinetic Group
Retrieved on:
Monday, April 8, 2024
Defense, Aerospace, Manufacturing, Military, Government Technology, Other Defense, Contracts, Kinetic, Firearm, Vista Outdoor, Growth, CFIUS, Czechoslovak Group, JPMorgan Chase, Committee, Acquisition, CCI, Foreign investment, Kinetic Group, Fiocchi Munizioni, Plant, CSG, Hart–Scott–Rodino Antitrust Improvements Act, Federal, Federal Trade Commission
CSG also highlighted the benefits of its planned Acquisition:
Key Points:
- CSG also highlighted the benefits of its planned Acquisition:
“CSG is a leading industrial technology company operating across strategic business segments including defense, aerospace, ammunition and mobility. - We look forward to successfully closing the Acquisition of The Kinetic Group and becoming the steward of such venerable American brands as Federal, CCI and Remington.
- CSG understands the special importance to American consumers of the brands that are part of The Kinetic Group.
- Working alongside Vista Outdoor, we are actively engaged in the process and believe we will secure all required approvals.
CFIUS Accepts Re-filed Notice for Proposed Sale of The Kinetic Group to CSG
Retrieved on:
Thursday, March 28, 2024
Vista Outdoor Inc. (“Vista Outdoor”, “we”, “us” or “our”) (NYSE: VSTO) and Czechoslovak Group a.s. (“CSG”) announced today that they have voluntarily withdrawn and re-filed their joint voluntary notice to the Committee on Foreign Investment in the United States (“CFIUS”) to allow CFIUS additional time to conduct diligence on the proposed acquisition by CSG of Vista Outdoor’s The Kinetic Group business (the “Transaction”).
Key Points:
- Vista Outdoor Inc. (“Vista Outdoor”, “we”, “us” or “our”) (NYSE: VSTO) and Czechoslovak Group a.s. (“CSG”) announced today that they have voluntarily withdrawn and re-filed their joint voluntary notice to the Committee on Foreign Investment in the United States (“CFIUS”) to allow CFIUS additional time to conduct diligence on the proposed acquisition by CSG of Vista Outdoor’s The Kinetic Group business (the “Transaction”).
- CFIUS’s acceptance of the re-filed joint voluntary notice has commenced a new review period.
- As part of its review process, CFIUS can permit parties to voluntarily withdraw and re-file to enable a complete and thorough review by CFIUS.
- We’re pleased CFIUS accepted our re-filed notice, which will allow the work to continue.
Vista Outdoor Confirms Receipt of Revised Indication of Interest from MNC Capital
Retrieved on:
Monday, March 25, 2024
On March 4, 2024, the Vista Outdoor Board of Directors (the “Vista Outdoor Board”) rejected an unsolicited indication of interest received on February 19, 2024 from MNC pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $35.00 per Vista Outdoor share (the “Initial MNC Indication”).
Key Points:
- On March 4, 2024, the Vista Outdoor Board of Directors (the “Vista Outdoor Board”) rejected an unsolicited indication of interest received on February 19, 2024 from MNC pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $35.00 per Vista Outdoor share (the “Initial MNC Indication”).
- The Vista Outdoor Board carefully reviewed and considered the Initial MNC Indication in consultation with its outside legal and financial advisors.
- Morgan Stanley & Co. LLC is acting as sole financial adviser to Vista Outdoor and Cravath, Swaine & Moore LLP is acting as legal adviser to Vista Outdoor.
- Moelis & Company LLC is acting as sole financial adviser to the independent directors of Vista Outdoor and Gibson, Dunn & Crutcher LLP is acting as legal adviser to the independent directors of Vista Outdoor.