Czechoslovak Group To Buy Vista Outdoor Inc.'s Sporting Products Business For $1.91 Bln

(RTTNews) - The Czechoslovak Group Monday announced that it has agreed to buy Vista Outdoor Inc.'s (VSTO) Sporting Products business for $1.91 billion.

According to the press release, Czechoslovak Group will partner with the existing management to pursue the continued growth path envisaged for the Sporting Products business over the coming years.

Headquartered in Anoka, Minnesota, Vista Outdoor's Sporting Products business is a leading ammunition manufacturer in the U.S. commercial and law enforcement markets. It employs approximately 4,000 employees across its four U.S. factories and owns leading ammunition brands including CCI, Federal, HEVI-Shot, Remington and Speer.

Michal Strnad, Owner and CEO of CSG, commented: "This transaction perfectly fits with our strategy of expanding the key pillars of our business. I am proud that our company and the Czech defense industry managed to realize the most significant Czech investment in the U.S. market to date, which will deepen the strategic industrial relations between the two countries. We look forward to working with Jason and the Sporting Products leadership team to expand on their company's success and their legacy of U.S. manufacturing."