Vista Outdoors shareholders approve sale

[Shankedit]

Hopefully things don't get worse with this, but I guess time will tell. I could only find one article about the sale other than the one from the Vista website, but it's behind a paywall. I knew they owned a lot of brands but I didn't know they owned so many. Including one of my favorites: Stone Glacier.
The Gear Junkie article talks about a foreign entity owning CCI, Federal, HEVI-SHOT, Speer, and Remington, and needing U.S. Government approval for the sale because of national security implications, which they received in June.

Gear Junkie:

Remington, Bushnell, CamelBak, and More Sold as Vista Outdoor Ruptures

After sweeping acquisitions in the outdoor space, Vista Outdoor is set to cash in a $3.4 billion offload in two separate chunks.

gearjunkie.com

Behind the paywall:

Vista Outdoor shareholders approve $2.225B ammo brands sale | Arkansas Democrat Gazette

After a little more than a year of starts and stops, Vista Outdoor's shareholders have approved the sale of the company's ammo brands, including Lonoke-based Remington Ammunition, to an overseas arms company.

www.arkansasonline.com

From the Vista website:

Vista Outdoor Stockholders Approve CSG Transaction to Acquire The Kinetic Group

CSG Transaction Expected to Close on November 27, 2024 SVP Transaction to Acquire Revelyst on Track to Close by January 2025 Vista Outdoor Inc. (“Vista Outdoor”, the “Company”) (NYSE: VSTO) today announced that its stockholders voted to approve the sale of The Kinetic Group to Czechoslovak Group...

news.vistaoutdoor.com

 

[Bucklowery]

I give you one guess who is funding this group. Our government has lost their minds

Thanks

Buck

 

[slikmrc]

CSG already owns Fiocchi, sounds like they are a fairly large defense contractor. Time will tell how this goes.

 

[tomcat818]

My grandfather starting using CCI products for handloads around 1948 and I use them today (Speer bullets and CCI primers). Sad day to see an American icon being sold off to a foreign country and out from under the American people. I researched Vista Outdoors during the component shortages during the plandemic and smelled a rat then and now the rat has been revealed. This will make it much easier for restrictions to be imposed on these items under import rules and even if that doesn't happen there's no guarantee the quality will stay at the high level I've come to expect from CCI products.
The FTC needs to investigate Vista Outdoors asap but it seems they are trying to get the deal done before the next administration takes office.