Heads up! Bell Helmets parent company Vista Outdoor announced it is splitting its Outdoor Products (Bell, CamelBak and Giro) and Sporting Products (Federal, Remington, CCI, Speer, Estate Cartridge and HEVI-Shot ammo brands) into two independent publicly traded companies. “This strategy has delivered incredible results and has built a strong foundation for Outdoor Products and Sporting Products to unlock further tremendous value and succeed on their own as separate and distinct independent companies,” explains CEO Christopher Metz.
As part of the plan, the Outdoor Products segment, to be renamed at a later date, will be led by Metz as CEO; and Sudhanshu Priyadarshi, Vista’s current CFO, will serve as CFO. Other members of the Outdoor Products leadership team will be announced at a later date. In addition to Bell and Giro helmets, the business unit includes Camp Chef, Bushnell, Bushnell Golf, Foresight Sports, Stone Glacier and QuietKat with sales of $1.3 billion in FY22.
“Each company will have a single strategic focus with resources to support specific operational needs and growth drivers,” claims Metz. “Additionally, each company will have tailored and discrete capital allocation priorities that are better suited to support its distinctive business model and long-term goals.”
Vista Outdoor plans to distribute 100% of the stock of the Outdoor Products company to its current shareholders as Outdoor Products becomes a new, independent, publicly traded company. The distribution is intended to be tax-free to U.S. shareholders. The company said it expects the transaction to be completed in 2023.
News of the planned separation came as Vista reported another strong quarter, with sales up 36 percent in the fourth quarter to a record $809 million. Sales topped Wall Street’s consensus estimate of $764.6 million.
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