Vista Outdoor’s Planned Separation of its Outdoor Products and Sporting Products Segments
May 05, 2022
On May 5, 2022, Vista Outdoor Inc., the parent company of more than three dozen brands that design, manufacture and market sporting and outdoor products, announced that its Board of Directors has unanimously approved a plan to separate its Outdoor Products and Sporting Products segments into two independent, publicly‑traded companies. Vista Outdoor anticipates that the transaction will be in the form of a distribution to its shareholders of 100% of the stock of Outdoor Products, which will become a new, independent publicly traded company. The distribution is intended to be tax‑free to U.S. shareholders for U.S. federal income tax purposes. Cravath is representing Vista Outdoor in connection with the transaction.
The Cravath team is led by partners Craig F. Arcella and Nicholas A. Dorsey and includes associates D. Ana Choi and Nicole M. Gould on corporate matters; and partner J. Leonard Teti II, senior attorney Andrew Carlon and associate Carlos Nicholas Obando on tax matters.
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People
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J.D., 1998, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.A., 1995, Duke University
- New York
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J.D., 2009, Cornell Law SchoolOrder of the Coif, summa cum laude
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M.Acc., 2006, Case Western Reserve Universitysumma cum laude
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B.S., 2006, Case Western Reserve Universitysumma cum laude
- New York
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
- New York
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J.D., 2016, Harvard Law Schoolmagna cum laude
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A.B., 2013, Harvard Collegemagna cum laude
- New York
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Deals & Cases
October 07, 2024
Vista Outdoor’s $1.125 Billion Sale of Revelyst to SVP
On October 4, 2024, Vista Outdoor Inc. (“Vista Outdoor”), the parent company of more than three dozen renowned brands that design, manufacture and market sporting and outdoor products, announced it has entered into a definitive agreement with funds managed by Strategic Value Partners, LLC, and its affiliates (“SVP”), a global alternative investment firm with approximately $19 billion of assets under management, to sell Revelyst in an all‑cash transaction based on an enterprise value of $1.125 billion. In connection with the SVP Transaction, Vista Outdoor also entered into an amendment to the merger agreement with Czechoslovak Group a.s. (“CSG”) to acquire The Kinetic Group, increasing the purchase price for The Kinetic Group to $2.225 billion. Together, the CSG Transaction and the SVP Transaction represent an enterprise value of $3.35 billion for Vista Outdoor and will deliver an estimated $45 per share in cash to Vista Outdoor stockholders. Cravath is representing Vista Outdoor in connection with the transaction.
Deals & Cases
October 16, 2023
Vista Outdoor’s $1.91 Billion Sale of its Sporting Products Business to CSG
On October 16, 2023, Vista Outdoor Inc. (“Vista Outdoor”), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor products to consumers around the globe, announced a definitive agreement to sell its Sporting Products business to Czechoslovak Group a.s. (“CSG”), a leading industrial technology holding company, for an enterprise value of $1.91 billion in an all-cash transaction. This transaction represents the next step in Vista Outdoor’s plan to split the company into separate entities. Cravath is representing Vista Outdoor in connection with the transaction.
