Vista Outdoor Announces Sale of Bollé, Cébé and Serengeti Brands
Vista Outdoor Inc. announced Monday, July 9, that it has entered into a definitive agreement to sell the legal entities operating its Bollé, Cébé and Serengeti brands to an entity controlled by a significant European private equity fund.
The sale is part of Vista Outdoor’s previously announced strategic business transformation plan, designed to allow the company to focus resources on pursuing growth in its core product categories of ammunition, hunting and shooting accessories, hydration bottles and packs, and outdoor cooking products.
“We are pleased to have successfully reached an agreement to sell our eyewear and safety business at an attractive price,” said Chris Metz, Chief Executive Officer of Vista Outdoor. “The business will have the opportunity to reach its full potential under new ownership. This divestiture is the first step in our transformation plan and will be the first of several potential asset sales that will significantly reduce Vista Outdoor’s leverage and provide additional resources to for us to reinvest in our core businesses.”
Read the complete press release for more information.