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.

The Cravath team is led by partners Aaron M. Gruber, Craig F. Arcella and Bethany A. Pfalzgraf and includes of counsel D. Ana Choi and associates Joshua D. Santilli, Edward O. Minturn, Mariel V. Mok, Shoumick M. Hasan, Asher Kalman, Jeffrey C. Cole and Daphne Peng on corporate matters; partner Stephen M. Kessing, of counsel Sarah F. Rosen and associate Ceara Maria Burns on financing matters; partner J. Leonard Teti II and associates Carlos Nicholas Obando, Christopher M. Winters and Michael Pelle on tax matters; partner Eric W. Hilfers and associates Jana I. Hymowitz and Nicholas J. Celli on executive compensation and benefits matters; partner Sasha Rosenthal‑Larrea, of counsel Kathryn‑Ann Stamm and associate Matthew L. Ybarra on intellectual property matters; partners Margaret T. Segall and Benjamin G. Joseloff, of counsel Megan Y. Lew and foreign associate attorney Aleine Obregón on regulatory matters; partner Matthew Morreale and associate Star S. Gulant on environmental matters; and practice area attorney Brian M. Budnick on real estate matters.