Vista Outdoor Signs Deal to Sell Savage
The gun company, which has been on the market since last Spring, was sold to an unnamed private equity group for a total purchase price of $170 million, including $158 million in cash up front and a $12 million note. Vista will use the net proceeds to pay down debt but didn’t say what the net proceeds are. It aims to be debt-free by 2020 from the sale of various divisions acquired by the prior management, a number of which have since been divested at a loss. Its impairment charge on the outdoor acquisitions, which included Camelbak, Jimmy Styx and ... Log in to view full article.