(Bloomberg) -- Vista Outdoor Inc., which split itself into ammunitions and outdoor goods businesses, agreed to sell both divisions for a total of about $3.4 billion.
Vista will sell its outdoor goods unit Revelyst to Strategic Value Partners in an all-cash transaction at an enterprise value of about $1.13 billion, the company said in a statement. The transaction is expected to be completed by January.
The deal is subject to the completion of the sale of Vista’s ammunitions business, Kinetic Group, to defense contractor Czechoslovak Group AS for about $2.23 billion in an amended merger agreement, the company said.
CSG had earlier agreed to buy Kinetic for $2.15 billion and invest $150 million in Revelyst.
The two transactions combined will deliver an estimated $45 per share in cash to Vista stockholders. Reuters first reported the deals.
The Kinetic sale has been cleared by regulators but is still subject to shareholders’ approval. Vista’s board last month recommended the CSG deal after rejecting an offer from MNC Capital. Vista expects the deal to be completed by end-2024.
(Updates with more details of deals from second paragraph)
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