Company expands brand portfolio into packs, camping equipment and technical apparel
ANOKA, Minn., Dec. 28, 2021 — Vista Outdoor Inc. (NYSE: VSTO), a leading global designer, manufacturer and marketer of products in the outdoor sports and recreation markets, today announced the acquisition of Stone Glacier?, a premium brand focused on ultralightweight, performance hunting gear designed for backcountry use. The addition of Stone Glacier to Vista Outdoor’s portfolio of outdoor products and shooting sports brands will allow the company to enter the packs, camping equipment and technical apparel categories with a fast-growing brand and provide a foundation for Vista Outdoor to leverage camping category synergies.
“I am excited to welcome the Stone Glacier team into the Vista Outdoor family,” said Vista Outdoor Chief Executive Officer Chris Metz. “Stone Glacier is an enthusiast brand that is fast-growing, well-managed and a great cultural fit. Our centers of excellence, brand portfolio and distribution network will support Stone Glacier as they reach their next level of awareness, maturity and growth. Stone Glacier enhances our ability to enter and leverage the camping category, which has exploded in popularity over recent years. The acquisition also further bolsters our reputation as the acquirer of choice in the outdoor industry.”
Founded in 2012 by Kurt Racicot, Stone Glacier designs and manufactures the lightest, most durable gear coveted by discerning backcountry adventurers. Based in Bozeman, Mont., with its headquarters surrounded by iconic public lands in Big Sky country, the brand has established itself as the premium preferred choice of backcountry hunters, outfitters and guides throughout the world.
“The future of Stone Glacier is bright. This partnership comes at a great time for our business, and we are excited for the support that Vista Outdoor will provide to accelerate our growth and continue developing industry-leading products,” said Stone Glacier President Jeff Sposito. “We have been fortunate to build a following of the most dedicated backcountry hunters and it has always been our mission to bring the best products, service and innovations to market. This partnership ensures we will continue to execute on that mission at the highest level.”
Vista Outdoor used cash on hand and available liquidity under its asset-based revolving credit facility to complete the transaction. Vista Outdoor expects the transaction to be immediately accretive to earnings, excluding transaction and transition costs. Vista Outdoor’s leverage ratio is expected to be below 1.0x at FY 2022 fiscal year end. This is the seventh acquisition in last 16 months for Vista Outdoor, including Remington, HEVI-Shot, Venor, QuietKat, Foresight Sports and Fiber Energy Products.
Reed Smith LLP acted as legal counsel to Vista Outdoor and Davis Graham & Stubbs LLP acted as legal counsel to the sellers in connection with the transaction.