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SEC approves Vista Outdoor unit's S-4 form for sale

EditorEmilio Ghigini
Published 22/03/2024, 14:46
Updated 22/03/2024, 14:46
© Reuters.

ANOKA, Minn. - Vista Outdoor Inc . (NYSE: NYSE:VSTO) announced that the U.S. Securities and Exchange Commission (SEC) has declared effective the registration statement on Form S-4 filed by its subsidiary, Revelyst, Inc.

This development is in connection with the proposed sale of Vista Outdoor’s The Kinetic Group business to Czechoslovak Group a.s. (CSG). The SEC's approval marks a significant step in Vista Outdoor's strategy to separate its segments into distinct entities, aiming to enhance stockholder value and foster long-term growth for both Revelyst and The Kinetic Group.

According to Michael Callahan, Chairman of the Vista Outdoor Board of Directors, the proposed sale is a strategic move to maximize value for stockholders. He emphasized that CSG's acquisition would provide a stable and long-term investment into the American workforce and the communities where the plants are located, benefiting the company's 4,000 U.S. workers.

Eric Nyman, CEO of Revelyst, highlighted the company's preparations for becoming a standalone public entity. Revelyst's "GEAR Up" transformation plan is projected to achieve $100 million in cost savings by the fiscal year 2027. Nyman expressed confidence in the company's future post-separation, citing a strong foundation, winning brands, and a solid balance sheet.

Vista Outdoor has also scheduled a special meeting for its stockholders on May 16, 2024, to vote on the transaction approval. Stockholders on record as of April 1, 2024, will be eligible to vote. The transaction is still subject to other customary closing conditions and regulatory approvals, including clearance from the Committee on Foreign Investment in the United States (CFIUS).

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Jason Vanderbrink, CEO of The Kinetic Group, expressed optimism about the new opportunities that CSG's ownership would bring to the company and its employees. He praised CSG's commitment to the group's American brands and its potential to expand domestic production capabilities and global distribution.

The announcement is based on a press release statement from Vista Outdoor Inc., which did not include any forward-looking statements or projections beyond what has been approved or scheduled. The company is known for its portfolio of outdoor and sporting brands, and its segments, Outdoor Products (Revelyst) and Sporting Products (The Kinetic Group), serve a broad consumer base with high-quality products.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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