Other Ammo News: Maker of CCI, Federal, HEVI-Shot, Remington and Speer Bought by Czech Company
BY PGF
1 year, 2 months ago
Vista Outdoors Bought by Czech Company. Press Release.
News:
Current CEO Jason Vanderbrink Will Continue to Lead the Sporting Products Business and the U.S. Headquarters Will Remain in Anoka, Minnesota
Represents Largest Acquisition in the History of Czech Defense Industry
The Czechoslovak Group (“CSG”) announced today that it has entered into a definitive agreement to acquire Vista Outdoor Inc.’s (NYSE: VSTO) (“Vista Outdoor”) Sporting Products business for a total consideration of $1.91 billion, valuing the business at approximately 5x Fiscal Year 2024E EBITDA, including estimated standalone costs. CSG will partner with the existing management to pursue the continued growth path envisaged for the Sporting Products business over the coming years.
Headquartered in Anoka, Minnesota, Vista Outdoor’s Sporting Products business is a leading ammunition manufacturer in the U.S. commercial and law enforcement markets. It employs approximately 4,000 employees across its four U.S. factories and owns leading ammunition brands including CCI, Federal, HEVI-Shot, Remington and Speer.
CSG, based in Prague, Czech Republic, is a leading industrial technology company operating in five strategic business segments: Defense, Aerospace, Ammunition, Mobility and Business Projects. It is 100% controlled and led by Michal Strnad, who has transformed it into the most relevant Czech industrial group, with a strong international footprint. CSG employs more than 10,000 people worldwide and owns and manages a diverse portfolio of industrial and trade companies across the civil and defense sectors.
This isn’t good news for any American. Having ammo manufacturing dependent in any way upon the hearts and minds of foreigners in Europe seems like a wrong strategic move for the government and certainly doesn’t bode well for civilians.
Smith & Wesson just opened manufacturing near Knoxville, TN; many southern states have stepped up, and now most U.S. firearms manufacturing is done in the southern United States. It’s time to bring ammunition manufacturing as well to the last vestiges of freedom on earth in the Deep South and Mountain West.
On October 16, 2023 at 5:44 pm, river rat Richard said:
It’s not to late. Every. Pay check you should be pick up some ammo/reloading components. You can’t afford not to . There’s no such thing as to much ammo,unless you’re swimming or on fire.
On October 16, 2023 at 6:04 pm, Allen said:
I’d feel better if had bought by a Slovakian company.
They’re about done with the EU.
On October 16, 2023 at 7:50 pm, Toxicavenger said:
RUAG (Norma) just set up outside of Savannah and PSA is fixin’ to build an ammo plant in SC…
On October 16, 2023 at 10:38 pm, Dan said:
While American made American owned is best the reality is that the Czech goverment and people are much more friendly to the firearms community than just about anyone in Mordor On The Potomac.
On October 17, 2023 at 3:26 pm, Gary said:
100% of Remington ammo is made in Lonoke Arkansas (about 20 minutes up I-40) from Little Rock).
On October 17, 2023 at 5:49 pm, PGF said:
@Gary, that’s great, but the point is larger than manufacturing location. It’s company mindset toward commitment to traditional American values and especially those rights that only freemen with blood heritage can understand. That mindset includes management because company policy is set at the top.