Vista Outdoor Inc. (VSTO), a multinational enterprise specializing in the design, production, and marketing of outdoor recreational products, has announced the successful divestment of The Kinetic Group to Czechoslovak Group (CSG).
In this transaction, shareholders of Vista Outdoor will receive a cash payment of $25.75, in addition to one share of Revelyst common stock for each Vista Outdoor common share held. Revelyst is a division within Vista Outdoor.
In a statement regarding the transaction, Michael Callahan, Chairman of Vista Outdoor's Board of Directors, remarked, "The successful completion of our sale of The Kinetic Group to CSG represents a pivotal achievement for our company. It underscores the diligent efforts of our Board to maximize stockholder value."
As of today, Revelyst will begin trading on the New York Stock Exchange with the ticker symbol "GEAR."
Previously, on October 4, 2024, Vista Outdoor declared an agreement with Strategic Value Partners (SVP) for the sale of Revelyst in an all-cash transaction valued at $1.125 billion. This deal is anticipated to conclude by January 2025, after which Revelyst will discontinue its trading on the New York Stock Exchange.
Morgan Stanley & Co. LLC serves as the exclusive financial advisor to Vista Outdoor during this transaction.
Chairman Michael Callahan added, "We believe this transaction will open new avenues for our dedicated employees and position The Kinetic Group for future expansion and success."
On Tuesday, VSTO shares concluded trading at $44.63, reflecting a 0.54% increase.
