Vista Outdoor to Sell Its Ammo Brands to Czech Arms Company
- Vista shares plunge after company trims its annual guidance
- CSG acquires ammo business amid global push to expand
Vista Outdoor headquarters in Anoka, Minnesota.
Source: Vista OutdoorVista Outdoor Inc. is selling its ammunition business to a Czech arms conglomerate in a $1.9 billion deal as the company focuses on sports and outdoor equipment for activities like golf and hiking.
Vista’s ammunition brands, which include Remington and CCI, will be purchased by Czechoslovak Group AS, according to a statement. Under owner Michal Strnad, the Prague-based holding company is looking to capitalize on the surge in demand for arms as the war in Ukraine drains nations’ stockpiles.