Savage sale on the horizon for Vista Outdoor
By Christen Smith
The back of the Savage Arms display at the Vista Outdoor booth during the annual NRA-AM in Dallas on May 4, 2018. (Photo: Daniel Terrill/Guns.com)
Vista Outdoor teased investors this week with yet another promise of news on the divestiture of its affordable rifle brand, Savage Arms, in the coming months.
Chief Executive Officer Chris Metz said Thursday the outdoor recreation conglomerate spent the entire third quarter — ending Dec. 31, 2018 — on fielding offers from prospective buyers, though still no word yet on who that might be.
“The process has been very competitive, and we are pleased with the current status of that transaction,” he said. “I’m pleased to report that, as we forecasted, we expect to be in a position to make an announcement on this transaction before the end of the fiscal year [in March].”
Metz, former president of Arctic Cat — a Minnesota-based snowmobile and all-terrain vehicle manufacturer — first hinted at his new vision for Vista just weeks after taking over when he told investors “the company grew too fast and beyond its core” after acquiring more than 50 brands over the last three years. A downturn in sales post-election only compounded the situation, he added.
“We can confidently say that our