The Czechoslovak Group Highlights the Benefits of Its Planned Acquisition of Vista Outdoor’s Sporting Products Business, The Kinetic Group
Summary
PRAGUE--(BUSINESS WIRE)--The Czechoslovak Group (“CSG”) today issued a statement reaffirming its commitment to the proposed all-cash acquisition (the “Acquisition”) of Vista Outdoor Inc.’s (NYSE: VSTO) (“Vista Outdoor”) Sporting Products business – recently renamed The Kinetic Group – for a total consideration of $1.91 billion, with fully committed financing from leading U.S. bank JP Morgan Chase. Under the leadership of current CEO and 100% owner Michal Strnad, CSG has become the pre-eminent Czech industrial group and built an extensive global footprint. We look forward to successfully closing the Acquisition of The Kinetic Group and becoming the steward of such venerable American brands as Federal, CCI and Remington. We would also like to highlight several benefits of the planned Acquisition and details about CSG’s track record, including: • We are a significant supplier to NATO and Ukraine and have no ties to Russia, China or other U.S. adversaries. It’s important to note that we successfully went through CFIUS screening when we acquired Fiocchi of America and its Arkansas and Missouri facilities in 2022.” Czechoslovak Group (CSG) is an international industrial technology holding company owned by Michal Strnad.