ANOKA, Minn. (BRAIN) — Vista Outdoor has agreed to sell its Revelyst business unit — which includes its bike-related brands — to Strategic Value Partners for $1.125 billion. The sale to SVP depends on shareholder and regulatory approval of the sale of the other half of Vista Outdoor's business to Czechoslovak Group (CSG).
After announcing plans to split the company into two publicly traded units last year, Vista Outdoor has been negotiating with CSG and other suitors for months for the sale of its Kinetic Group business, which includes its ammunition brands. CSG and other suitors including MNC Capital have also indicated interest in buying the Revelyst unit, which includes Bell, Giro, Fox Racing, CamelBak, Blackburn, QuietKat and other brands. SVG was not one of the publicly disclosed potential buyers until last week.
David Geenberg, SVP's head of North American Corporate Investments, said SVP had been following Revelyst's performance for almost a year. "With this investment, we plan to put SVP's full operating resources and network behind Revelyst to help accelerate the success of this market leader," Geenberg said in a statement.
SVP manages approximately $19 billion in assets and since inception, as invested more than $48 billion of capital, including more than $18 billion in Europe. The firm, established by Victor Khosla in 2001, has over 200 employees across its main offices in Greenwich, Connecticut, London, and Tokyo.
