Status:       Pending

Acquirer:            Czechoslovak Group a.s. (Czech Republic)

Acquired:            Sporting Products business of Vista Outdoor Inc. (U.S.)

Value:                  $1.91 billion

Industry Tags:    Firearms; Law Enforcement

On October 15, 2023, Vista Outdoor Inc. (NYSE: VSTO), “the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor products,” entered into “a definitive agreement to sell its Sporting Products business to Czechoslovak Group a.s. (“CSG”) for an enterprise value of $1.91 billion in an all-cash transaction subject to customary closing conditions.”  (Press Release, Vista Outdoor Inc. Form 8-K, Ex-99.1, Oct. 16, 2023, SEC Filing.) The Sporting Products business, which was renamed The Kinetic Group, “designs, develops, distributes and manufactures ammunition, primers and components and serves devoted hunters, recreational shooters, federal and local law enforcement agencies and the military.”  (Vista Outdoor Inc. Form 10-Q, Feb. 1, 2024, SEC Filing.)  CFIUS Approval is a condition to closing the transaction.  (See Section 7.01(b), Agreement and Plan of Merger, Vista Outdoor Inc. Form 8-K, Ex-2.1, Oct. 16, 2023, SEC Filing.)  The parties “formally beg[an] the CFIUS review process in late December” 2023.  (Vista Outdoor Inc. Form 425, Feb. 1, 2024, SEC Filing.)

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