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To all of you who are serving or have served our country, Thank You |
A sad day.. USA largest civilian ammo producer sold their factories. ANOKA, Minn.--(BUSINESS WIRE)-- Vista Outdoor Inc. (NYSE: VSTO) (“Vista Outdoor”), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor products to consumers around the globe, today announced 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. This transaction represents the next step in Vista Outdoor’s plan to split the company into separate entities, which was previously announced on May 5, 2022. CSG is a leading industrial technology holding company, operating within five strategic business segments, including defense, aerospace, ammunition, mobility and business. CSG is 100% owned and led by Michal Strnad, who has transformed it into a leading Czech industrial group with a strong international footprint. CSG employs more than 10,000 people worldwide and it owns and manages a diverse portfolio of industrial and trade companies across the defense and civil sectors. “This is an important strategic step for our company in creating value through separating our Outdoor Products and Sporting Products segments,” said Gary McArthur, interim CEO of Vista Outdoor. “The previously announced plan to separate our businesses has positioned us to execute seamlessly on this transaction, which we believe is the best path to maximize value for our stockholders, while better positioning Sporting Products and Outdoor Products for future success.” “We are confident that CSG is a great home for our leading ammunition brands,” said Jason Vanderbrink, CEO of Sporting Products. “The company is fully committed to our iconic American brands and expanding our legacy of U.S. manufacturing, support for military and law enforcement customers, and investments in conservation and our hunting and shooting heritage. We are excited to work closely with the CSG team as we enter this next phase and position our brands for long-term success.” https://news.vistaoutdoor.com/...Billion/default.aspx | ||
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| Member |
I'm sure there are a few examples of companies being improved by these corporate acquisitions, but I'd bet they are rare. At least they didn't sell to China. | |||
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Fighting the good fight |
For those who don't recognize the names of the parent companies, you can think of this as Fiocchi acquiring Federal/CCI/Speer. | |||
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Member |
I think in this case that might be an improvement. That is in no way a knock on Federal/CCI/Speer, rather concerns over corporate leadership vis a vis Vista outdoors. Fiocchi makes excellent products and I’ve visited some of their manufacturing facilities here in the US and found them to be very impressive. I think in this case, the acquiring conglomerate is actually proud of being in the ammunition business, whereas Vista Outdoors saw their ammunition business as an “icky” necessity otherwise incongruous with their woke ideals. I’m taking a cautiously optimistic approach to this news. “It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.” | |||
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| Member |
Kolache's for everyone! Meanwhile , in eastern Iowa https://www.kwqc.com/2023/10/1...e-art-metrology-lab/ Safety, Situational Awareness and proficiency. Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first | |||
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| To all of you who are serving or have served our country, Thank You |
Yes along with Remington ammo and HEVI Shot. | |||
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| Be not wise in thine own eyes  |
Should be a pretty straight forward class-action lawsuit, as Vista Outdoors mis-led their stockholders. The sale was a bit of surprise to stockholders who lost a considerable amount on Tuesday. I am willing to bet the vast majority of stockholders had intended to invest in a company manufacturing ammunition rather than water bottles. It should also be a bit concerning that the U.S. Government would allow for 70% of civilian ammunition manufacturing be sold off to a foreign company, 100% owned by a single 30 year old billionaire in Prague who has made a fortune on the Ukraine war. Not trying to disparage this gentlemen, but definitely shows bad judgement on U.S. policy to sell off critical infrastructure. “We’re in a situation where we have put together, and you guys did it for our administration…President Obama’s administration before this. We have put together, I think, the most extensive and inclusive voter fraud organization in the history of American politics,” Pres. Select, Joe Biden “Let’s go, Brandon” Kelli Stavast, 2 Oct. 2021 | |||
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Political Cynic |
The US Government probably welcomed the sale as it removes a source of ammunition from the American people. | |||
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| Back, and to the left  |
Me too. Notice in the press release they said this was an all cash transaction. This likely means Blockrock or other associated shitheads likely had no hand in this at all. | |||
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| Be not wise in thine own eyes |
A bit more information on the Czechoslovak Group (“CSG”) can be found on their website. Czechoslovak Group News “We’re in a situation where we have put together, and you guys did it for our administration…President Obama’s administration before this. We have put together, I think, the most extensive and inclusive voter fraud organization in the history of American politics,” Pres. Select, Joe Biden “Let’s go, Brandon” Kelli Stavast, 2 Oct. 2021 | |||
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goodheart |
Interesting that JP Morgan is the sole financial adviser shepherding this deal. This guy didn’t buy the ammo business to lose money or decrease production. Vista clearly did not have its heart in this business. _________________________ “Remember, remember the fifth of November!" | |||
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Member |
Good. The Czechs have a long, proud tradition of arms production. I can think of few who I’d rather see own it. Demand not that events should happen as you wish; but wish them to happen as they do happen, and you will go on well. -Epictetus | |||
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| Peace through superior firepower  |
Yes, as much as I'd rather that the ownership of this company remained American, I don't think this sale will hurt us, and it may even benefit us. | |||
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| Member |
It reminds me of the sale of Colt and Dan Wesson to CZ. | |||
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| Member |
The group that bought the vista group like all other businessmen has but one goal to make money. The most fertile field for making money in ammunition sales ( outside massive military contracts) is the United States. I highly doubt this will change anything, except perhaps make ammo better or more available. ( the Eastern Europeans tend to be savvy business men / women, and from my experiences no one embraces “American “ type freedoms like the 2nd that people who survived oppression behind the iron curtain) Look at the drastic difference for example in the quality of European 22 ammo ( eley lapua SK) compared to the junk American makers pump out. I do a lot of 22 shooting, and it wouldn’t entirely surprise me if the new owners of vista make a run at producing match grade 22 ammo domestically | |||
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Member |
BINGO! | |||
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| I have not yet begun to procrastinate |
How so? Fiocchi has been making ammo in the US for a while now hasn’t it? Did the CZ plant slated for Little Rock get built? I know there were some delays back in 2020 or so. -------- After the game, the King and the pawn go into the same box. | |||
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| I swear I had something for this |
They abandoned it when they bought Colt. | |||
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| Thank you Very little  |
From the other thread there is a good article and it contains the press releases from both Visa and the buyer CSG. Link | |||
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| Fighting the good fight |
And the plot thickens. A competing offer from a Texas company has emerged, amid a national security review of the potential sale to CSG. Dallas-based MNC Capital Partners is apparently made up of a group of wealthy Texas families, and their effort here is being led by Mark Gottfredson, who was previously on the Board of Directors of Vista until he resigned in January 2024. From https://www.nytimes.com/2024/0...nition-mnc-deal.html This message has been edited. Last edited by: RogueJSK, | |||
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