ICYMI: Industry News
From Nov. 25–29, 2024
Vista Outdoor Announces Completion Of CSG Transaction
Nov. 27, Vista Outdoor Inc. announced the completion of the sale of The Kinetic Group to Czechoslovak Group (CSG), following receipt of stockholder approval at Vista’s special meeting of stockholders on Nov. 25. Under the terms of the merger agreement for the CSG Transaction, Vista Outdoor stockholders will receive $25.75 in cash and one share of Revelyst common stock for each share of Vista Outdoor common stock they hold.
“The completion of our sale of The Kinetic Group to CSG marks a significant milestone for our company and represents the successful culmination of our Board’s tireless efforts and robust process to deliver maximum value for stockholders,” said Michael Callahan, chairman of the Vista Outdoor board of directors. “We are confident our leading ammunition brands will be well positioned under CSG’s ownership given its expertise in supply chain management and ammunition manufacturing, along with its shared commitment to expanding U.S. manufacturing and supporting NATO and allied nations. We also believe the transaction will create new opportunities for our dedicated employees and position The Kinetic Group for future growth and success.”
“We are pleased to complete the transaction with Vista Outdoor and look forward to welcoming The Kinetic Group’s talented team to the CSG family,” said Michal Strnad, CEO of CSG. “The Kinetic Group has a strong portfolio of leading ammunition brands, and we are confident our partnership will drive continued growth and innovation, as we deliver high-quality ammunition products to customers and create long-term value together.”
Also on Nov. 27, Revelyst began trading on the New York Stock Exchange under the ticker “GEAR.” Oct. 4, 2024, Vista Outdoor entered into a definitive agreement under which funds managed by Strategic Value Partners LLC (together and its affiliates, “SVP”) will acquire Revelyst in an all-cash transaction based on an enterprise value of $1.125 billion.
With the successful completion of the CSG Transaction, the SVP Transaction is expected to close by Jan. 2025, subject to the receipt of necessary regulatory approvals and satisfaction of other customary closing conditions. Following the closing of the SVP Transaction, Revelyst will cease trading on the New York Stock Exchange.
“Until the SVP Transaction closes, we remain focused on advancing our strategic objectives, accelerating our GEAR UP efforts and delivering innovative, top-tier products to outdoor enthusiasts,” said Revelyst CEO Eric Nyman.
For more info: vistaoutdoor.com.
Trijicon ACOG Named 2024 Coolest Thing Made in Michigan
Trijicon Inc. announces the Michigan Manufacturing Association (MMA) has selected the Trijicon ACOG to receive the 2024 “Coolest Thing Made in Michigan” award. The ACOG was selected from more than 30 nominated products through two rounds of consumer voting, and a final selection by the MMA Excellence Awards committee.
The Manufacturing Excellence Awards is an annual statewide celebration of the exceptional contributions that Michigan manufacturers make to their workforce, their communities, the economy and the industry.
“For more than a century, Michiganders have been making cool and innovative products that have had an incredible impact on our state and country,” said MMA President and CEO John J. Walsh. “Trijicon’s Advanced Combat Optical Gunsights (ACOGs) are an exceptionally deserving product to receive the coveted title of ‘Coolest Thing Made in Michigan.’ These made-in-Michigan precision aiming solutions disrupted the industry with a product that increases the effectiveness and safety of our warfighters and first responders.”
“From the home of Trijicon founder Glyn Bindon to the front lines of America’s greatest fighting forces, the Trijicon ACOG has grown to become the most durable, battle-proven, combat optic ever designed,” said John Trull, Trijicon VP of sales and marketing. “We would like to thank our employees for their dedication and focus on quality, our president, Stephen Bindon, for providing all Trijicon employees with an outstanding place to work, and thank you to the Michigan Manufacturing Association for the opportunity to highlight our company and how important manufacturing is to Michigan.”
Trijicon is proud to count among its ACOG users the United States Marine Corps, United States Army, United States Special Operations Forces, United States government, state and local law enforcement and many of America’s allies.
For more info: trijicon.com, mimfg.org/excellence.
Beretta USA Delivers A300 Ultima Patrol Shotguns To TWRA
Beretta USA, a member of the BDT (Beretta Defense Technologies) alliance, announced the delivery of A300 Ultima Patrol shotguns to the Tennessee Wildlife Resources Agency (TWRA). Beretta USA will also provide armorer training.
“We are proud to be adding such a high-quality shotgun to our officer gear,” said TWRA Executive Director Jason Maxedon. “These guns are made in Tennessee and will be put to good use serving Tennesseans, ensuring public safety and protecting wildlife species for generations to come.”
“We are honored to support our home state TWRA officers with a shotgun born from the needs of U.S. law enforcement and proudly manufactured at our Gallatin, Tenn., manufacturing facility,” said Stefano Itri, VP of international sales and BDT USA. “The A300 Patrol carries on the Beretta tradition of excellence, providing our law enforcement officers with a reliable, accurate and durable product they can trust.”
The A300 Ultima Patrol shotgun was developed from Beretta’s proven A300 action, engineered to be ultra-reliable and easy to manipulate. This new defense shotgun includes enlarged controls, an enhanced loading port, a thinner forend design with multiple M-LOK and QD sling mounting points and a 7+1 shot extended-magazine tube secured by a custom barrel clamp with integral M-LOK capability.
“The A300 Patrol provides the Agency or individual officer with an incredible value gun,” said Gabriele de Plano, VP, product marketing and communication, law enforcement. “It provides the performance and features required by the professional user at an affordable price.”
For more info: berettadefensetechnologies.com
