Following the spinoff of its Outdoor Products business, Vista
Outdoor will be rebranded as The Kinetic Group, whose name, logo
and NYSE ticker “HUNT” were unveiled today along with an
inspirational video in an employee town hall in Lewiston,
Idaho.
Sporting Products President and CEO Jason Vanderbrink revealed
the new company name, logo and ticker symbol while re-emphasizing
ammo leadership, community support and conservation.
The new name of the Outdoor Products company will be released in
the coming weeks.
Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41
renowned brands that design, manufacture and market sporting and
outdoor lifestyle products to consumers around the globe, today
announced its new name and identity that will be effective
following the planned spinoff of Vista Outdoor’s Outdoor Products
business.
Post-spin, Vista Outdoor will be rebranded as The Kinetic
Group, a name that surfaced among employees during the naming
process and represents the energy behind the company and its
leading ammunition brands. The Kinetic Group will trade on the New
York Stock Exchange under the stock ticker “HUNT,” and the brand
will feature original logo artwork of a North American ram.
Sporting Products leaders unveiled The Kinetic Group’s branding to
employees during an employee town hall on Aug. 10 at the CCI-Speer
ammunition factory in Lewiston, Idaho.
“The performance of our products is so often measured in energy
on target. Kinetic energy is the force behind our world-class
brands and exhibits the spirit of the 4,500 American workers who
represent our company,” said Jason Vanderbrink, Sporting Products
President and CEO. “The process of developing a new company name
and identity has been exciting and inspiring. We’re all proud of
the brands we represent and the products we make in our four
American factories. Harnessing the enthusiasm of our employees
throughout this process was pivotal to coming up with the best name
and logo as we move closer to becoming a standalone company.”
After careful review of hundreds of name options and logo
iterations, Vista Outdoor is now one step closer to completing the
strategic separation of its Sporting Products and Outdoor Products
segments.
“The Kinetic Group will be our name moving forward after the
separation and be used for corporate identity to bring employees
and stakeholders together with a common purpose and strategic
approach,” Vanderbrink said. “To hunters and shooters, their
favorite brand of ammunition will take center stage as it always
has — they’ll look for CCI, Federal, HEVI-Shot, Remington and Speer
on the shelf, at events and online.”
To watch the launch video, visit www.thekineticgroup.com.
The rebranding of Sporting Products is one of several milestones
for Vista Outdoor as the company plans to separate its Sporting
Products and Outdoor Products segments. In the Sporting Products
segment, Vanderbrink was named CEO of the segment in April to go
along with his title of President. In July, he was appointed to the
Vista Outdoor board of directors, and he will be a director on The
Kinetic Group’s board of directors post-spin. Joining Vanderbrink
on The Kinetic Group’s leadership team are Andy Keegan (CFO) and
Jeff Ehrich (General Counsel and Corporate Secretary).
In the Outdoor Products segment, Eric Nyman will begin as CEO of
the segment on Aug. 21, and he will be CEO of the new Outdoor
Products company post-spin. The new Outdoor Products company will
be led by Nyman and a dedicated management team that he will hire.
Vista Outdoor will announce the name of the new Outdoor Products
company in the coming weeks, followed by the unveiling of the
company’s branding at Investor Day in October in New York City.
Gary McArthur will continue as interim CEO of Vista Outdoor
until the completion of the spinoff. McArthur will focus on
completing the separation of Vista Outdoor’s Sporting Products and
Outdoor Products segments in calendar year 2023, in addition to
overseeing Vista Outdoor’s corporate, administrative and financial
reporting functions, risk management, stockholder engagement, and
ensuring strategy cohesion and coordination across both segments.
McArthur will continue serving on the board of directors of Vista
Outdoor until the separation and will become the chair of the
Outdoor Products company’s board of directors post-spin.
“Sporting Products’ selection of The Kinetic Group as its new
name has given Vista Outdoor a surge of energy as we prepare to
separate into two independent, publicly traded companies,” McArthur
said. “The dedicated, talented and hard-working employees of our
Sporting Products segment have delivered a brand name and identity
that will be the envy of the industry — much like the products they
make at our factories around the United States.”
Separation Update
On May 5, 2022, Vista Outdoor announced that the company plans
to separate its Outdoor Products and Sporting Products segments
into two independent, publicly traded companies. The company
expects to create these companies through a tax-free spin-off of
its Outdoor Products segment to Vista Outdoor shareholders.
The company is on track to execute the separation in calendar
2023. The Form 10 has been confidentially submitted to the
Securities and Exchange Commission (SEC).
About Vista Outdoor Inc.
Vista Outdoor (NYSE: VSTO) is the parent company of more than
three dozen renowned brands that design, manufacture and market
sporting and outdoor products. Brands include Bushnell, CamelBak,
Bushnell Golf, Foresight Sports, Fox Racing, Bell Helmets, Camp
Chef, Giro, Simms Fishing, QuietKat, Stone Glacier, Federal
Ammunition, Remington Ammunition and more. Our reporting segments,
Outdoor Products and Sporting Products, provide consumers with a
wide range of performance-driven, high-quality and innovative
outdoor and sporting products. As Vista Outdoor announced in 2022,
the company is separating its Outdoor Products and Sporting
Products segments into two independent, publicly traded companies.
For news and information, visit our website at
www.vistaoutdoor.com.
Forward-Looking Statements
Some of the statements made and information contained in this
Press Release, excluding historical information, are
“forward-looking statements,” including those that discuss, among
other things: our plans, objectives, expectations, intentions,
strategies, goals, outlook or other non-historical matters;
projections with respect to future revenues, income, earnings per
share or other financial measures for Vista Outdoor; and the
assumptions that underlie these matters. The words “believe,”
“expect,” “anticipate,” “intend,” “aim,” “should” and similar
expressions are intended to identify such forward-looking
statements. To the extent that any such information is
forward-looking, it is intended to fit within the safe harbor for
forward-looking information provided by the Private Securities
Litigation Reform Act of 1995. Numerous risks, uncertainties and
other factors could cause our actual results to differ materially
from the expectations described in such forward-looking statements,
including the following: risks related to the separation of our
Outdoor Products and Sporting Products segments, including that the
process of exploring the transaction and potentially completing the
transaction could disrupt or adversely affect the consolidated or
separate businesses, results of operations and financial condition,
that the transaction may not achieve some or all of any anticipated
benefits with respect to either business and that the transaction
may not be completed in accordance with our expected plans or
anticipated timelines, or at all; impacts from the COVID-19
pandemic on Vista Outdoor’s operations, the operations of our
customers and suppliers and general economic conditions; supplier
capacity constraints, production or shipping disruptions or quality
or price issues affecting our operating costs; the supply,
availability and costs of raw materials and components; increases
in commodity, energy, and production costs; seasonality and weather
conditions; our ability to complete acquisitions, realize expected
benefits from acquisitions and integrate acquired businesses;
reductions in or unexpected changes in or our inability to
accurately forecast demand for ammunition, accessories, or other
outdoor sports and recreation products; disruption in the service
or significant increase in the cost of our primary delivery and
shipping services for our products and components or a significant
disruption at shipping ports; risks associated with diversification
into new international and commercial markets, including regulatory
compliance; our ability to take advantage of growth opportunities
in international and commercial markets; our ability to obtain and
maintain licenses to third-party technology; our ability to attract
and retain key personnel; disruptions caused by catastrophic
events; risks associated with our sales to significant retail
customers, including unexpected cancellations, delays, and other
changes to purchase orders; our competitive environment; our
ability to adapt our products to changes in technology, the
marketplace and customer preferences, including our ability to
respond to shifting preferences of the end consumer from brick and
mortar retail to online retail; our ability to maintain and enhance
brand recognition and reputation; others’ use of social media to
disseminate negative commentary about us, our products, and
boycotts; the outcome of contingencies, including with respect to
litigation and other proceedings relating to intellectual property,
product liability, warranty liability, personal injury, and
environmental remediation; our ability to comply with extensive
federal, state and international laws, rules and regulations;
changes in laws, rules and regulations relating to our business,
such as federal and state ammunition regulations; risks associated
with cybersecurity and other industrial and physical security
threats; interest rate risk; changes in the current tariff
structures; changes in tax rules or pronouncements; capital market
volatility and the availability of financing; foreign currency
exchange rates and fluctuations in those rates; general economic
and business conditions in the United States and our markets
outside the United States, including as a result of the war in
Ukraine and the imposition of sanctions on Russia, the COVID-19
pandemic, conditions affecting employment levels, consumer
confidence and spending, conditions in the retail environment, and
other economic conditions affecting demand for our products and the
financial health of our customers. You are cautioned not to place
undue reliance on any forward-looking statements we make. A more
detailed description of risk factors that may affect our operating
results can be found in Part 1, Item 1A, Risk Factors, of our
Annual Report on Form 10-K for fiscal year 2022 and in the filings
we make with Securities and Exchange Commission (the “SEC”) from
time to time. We undertake no obligation to update any
forward-looking statements, except as otherwise required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230810796686/en/
Investor Contact: Tyler Lindwall Phone: 612-704-0147
Email: investor.relations@vistaoutdoor.com Media Contact:
Eric Smith Phone: 720-772-0877 Email:
media.relations@vistaoutdoor.com
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