Divesture of ammunition brand reduces debt
Vista Outdoor Inc. transformation pathway to exit the gun manufacturing business started with the sale of its Savage Arms and Stevens firearms brand in July of 2019. The $170 million proceeds will be utilized to reduce debt. While the Savage brand was critical for the growth of Vista, the divestiture allows for more flexibility in the partnerships available as well as improving their financial flexibility to position themselves for long-term growth.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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