Vista Outdoor Inc. (NYSE: VSTO) is selling off its eyewear brands, Bollé, Cébé and Serengeti.

An entity controlled by a significant European private equity fund entered into a definitive agreement with Vista Outdoor, according to a company news release.

Earlier this year, Vista Outdoor announced that it's focusing resources on growing its core product categories of ammunition, hunting and shooting accessories, hydration bottles and packs (CamelBak), and outdoor cooking products (Camp Chef).

"We are pleased to have successfully reached an agreement to sell our eyewear and safety business at an attractive price," said Chris Metz, CEO of Vista Outdoor. "The business will have the opportunity to reach its full potential under new ownership. This divestiture is the first step in our transformation plan and will be the first of several potential asset sales that will significantly reduce Vista Outdoor's leverage and provide additional resources to for us to reinvest in our core businesses."

The refocus follows a year of turmoil after consumers boycotted outdoor brands under Vista Outdoor, which also owns a manufacturer of assault-style rifles.

Vista Outdoor also said earlier this year that it plans to divest from its gun brands.

"We are now turning our efforts to the rest of our divestiture plan as previously communicated in May," said Metz. "We are excited to build on this momentum and expect to provide further updates on this process during our first quarter earnings call in early August."

Will Savage Arms, which was at the heart of the debate, be sold off next?

Tags
terms:
Vista Outdoor

Related

Savage Arms MSR 15 Competition

Vista looking to sell off Savage Arms

Today, Vista Outdoor Inc. reported that it’s exploring the idea of selling off Savage Arms, the maker of semi-automatic weapons and the brand that was at the heart of a boycott back in early March. According to a press release issued by Vista’s media relations department, the ...read more

grid representing action shots of vista outdoor brands

Breaking down the Vista Outdoor boycott

"Excuse me. Can you tell me where the CamelBaks are?" I asked a hovering, green-vested employee in a big metro REI store last fall. "We don't carry CamelBak anymore," she said. Obviously well-versed, she continued, "Their parent company also owns a semi-automatic rifle ...read more

Two men in Giro gear, one of Vista Outdoor's brands

Vista Outdoor cuts jobs in bike division

Vista Outdoor recently laid off 14 people at its Scotts Valley, California, facility, the headquarters for Bell, Giro, and Blackburn. The cuts—about 10 percent of the workforce at the facility—come even as the company reinvests in its bike division. Layoffs touched people in all ...read more

REI storefront on a sunny day.

REI drops CamelBak, Giro, Bell, Camp Chef and other Vista brands (at least temporarily)

REI has placed a hold on future orders with Vista Outdoor brands, such as CamelBak and Giro, as a global gun control debate mounts. The U.S. cooperative's decision comes the same day as its counterpart in Canada, Mountain Equipment Co-op, severed ties with several outdoor brands ...read more

Vista Outdoor headquarters

Will REI, MEC drop brands owned by NRA-supporting Vista Outdoor?

Two giant outdoor retailers — one in Canada, one in the U.S. — are facing increasing pressures from members to cut ties with several brands under the parent company Vista Outdoor, which also owns a semi-automatic rifle manufacturer. In the aftermath of the Florida school ...read more

Vista Outdoor Logo_lg

Vista Outdoor sued for ‘artificially inflated’ share prices

Vista Outdoor is facing a class-action lawsuit accusing the parent company of CamelBak, Bell, Giro, and dozens of other outdoor and firearms brands of artificially inflating the value of its stock. The price of a share fell from $42.75 in August to $28.70 last month. Patrick ...read more

Walmart everyday low price sign in toy aisle

Why brands quickly changed their minds about selling on Walmart.com

It’s safe to say American shoppers don’t go to Walmart looking for top-of-the line backpacks, winter expedition apparel, and mountaineering gear. But the big box discounter challenged that assumption with the launch of a premium outdoor store last week. “When’s the last time you ...read more

Asian woman wearing Royal Robbins on bridge with Japanese building in background

The next chapter of the Royal Robbins brand

Wearing the same outfit on the plane, while exploring new countries, while climbing and hiking, and back on the airplane again could pin you as a dirtbag. But it could also mean you're a savvy and smart adventure traveler. Late rock climber Royal Robbins was both. Those are the ...read more

climber stemming up a crack

Industry Buzz: Vista Outdoor sells Savage Arms, new climbing map, CLIF, Patagonia, Arches, and Denali closes for good

Keep up by reading Industry Buzz. Here are today's top headlines: Have a news tip? Email us at snewsedit@aimmedia.com It's official: Vista Outdoor today completed the sale of Savage Arms and Stevens firearms. A financial buyer bought the brands for $170 million. The sale is part ...read more