In its 15th annual Top Middle-Market Deals list, Mergers
& Acquisitions honored Vista Outdoor's $474 million purchase of Foresight as 2021's top
deal in the Consumer Products-Recreation category.
ANOKA,
Minn., April 28, 2022 /PRNewswire/ -- Vista
Outdoor Inc. (NYSE: VSTO), the parent company of 39 renowned brands
that design, manufacture and market sporting and outdoor products
to consumers around the globe, has been honored by the trade
publication Mergers & Acquisitions for the company's
$474 million acquisition of Foresight
Sports last September. The transaction was named the top deal for
2021 in the Consumer Products-Recreation category. Mergers &
Acquisitions' 15th annual Top Middle-Market Deals list
celebrates the transactions that "set the gold standard in the
middle market" for deals that closed between January 2021 and February
2022.
In its analysis of the deal, Mergers & Acquisitions
said Vista Outdoor "expanded its presence in higher growth, less
cyclical outdoor products markets" with the addition of Foresight
Sports, a leading designer and manufacturer of golf performance
analysis, entertainment, and game enhancement technologies.
Foresight Sports is a vertically integrated engineering and
manufacturing company that produces launch monitors, simulators,
performance/entertainment software and smart mobility solutions for
on- and off-course golf activities and a variety of other sports
and games.
"We are honored that Mergers & Acquisitions
recognized this transaction as the top deal for 2021 in the
Consumer Products-Recreation category," said Vista Outdoor Chief
Executive Officer Chris Metz. "Last
year's addition of Foresight Sports immediately positioned Vista
Outdoor as one of the top technology players in the golf industry.
This deal is a testament to the M&A capability we have built,
which is constantly finding new assets that will not only help
Vista Outdoor grow revenue and improve profitability but also
complement our current brands and strengthen our 'Better with
Vista' portfolio strategy. Together under the same roof, Bushnell
Golf and Foresight Sports are elevating their brands' strengths,
engaging and expanding into new segments of the industry, and
driving growth and brand awareness at an unprecedented scale."
The recognition further solidifies Vista Outdoor's reputation as
the acquirer of choice in the outdoor and sporting goods industry,
a distinction that can be credited to the company's relentless
pursuit of quality assets and its ability to transact seamless
acquisitions and integrations. That this honor came during COVID-19
is another testament to the company's commitment to doing things
the right way to benefit all of Vista Outdoor's stakeholders.
Vista Outdoor's entire M&A and financial team are to be
commended for the success of this deal, as are the other parties
that helped the companies get the Foresight transaction across the
finish line. They include PricewaterhouseCoopers Corporate Finance
LLC and Gunderson Dettmer LLP, which served as financial advisor
and legal advisor, respectively, to Foresight Sports, and Reed
Smith LLP, which served as legal advisor to Vista Outdoor.
The 15th annual M&A Mid-Market Awards will also be published
in the May/June 2022 issue of
Mergers & Acquisitions. The publication's second annual
Dealmakers Summit — an in-person gathering of the middle market's
top dealmakers — will take place on Nov.
3 in New York City.
About Vista Outdoor Inc.
Vista Outdoor (NYSE: VSTO) is
the parent company of more than three dozen renowned brands that
design, manufacture and market sporting and outdoor products. We
serve a broad and diverse range of consumers around the globe,
including outdoor enthusiasts, golfers, cyclists, backyard
grillers, campers, hunters, recreational shooters, athletes, as
well as law enforcement and military professionals. Our reporting
segments, Outdoor Products and Sporting Products, provide these
consumers with a wide range of performance-driven, high-quality and
innovative outdoor and sporting products. Our operating model
leverages shared resources across brands to achieve levels of
excellence and performance that would be out of reach for any one
brand on its own. Brands include Remington Ammunition, Bushnell,
CamelBak, Bushnell Golf, Foresight Sports, Fiber Energy Products,
Bell Helmets, Camp Chef, Giro, QuietKat, Stone Glacier, Federal
Ammunition and more. Vista Outdoor products are sold at leading
retailers and distributors across North America and
worldwide. For news and information, visit our website
at www.vistaoutdoor.com.
Media Contact:
Eric
Smith
Phone: 901-573-9156
E-mail: media.relations@vistaoutdoor.com
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SOURCE Vista Outdoor Inc.