Vista Outdoor Chief Executive Officer Chris Metz issued a statement in the company’s Nov. 9, 2017 Form 8-K [PDF] with the United States Securities and Exchange Commission that indicated the company will be selling three of its companies in the next year. “"We’re in the process of completing a portfolio review of our brands, and we will divest assets where we see the potential to unlock shareholder value,” he stated. “As a first outcome of this process, we are announcing our intention to sell the Bollé, Serengeti and Cébé brands in the Sports Protection business. These brands were acquired as part of the Bushnell transaction in 2013 and focus primarily on fashion, prescription and safety eyewear, which are areas that we have determined are not core to our business. The sale of these brands is expected to take place over the next few quarters.”
The company currently counts Savage Arms, Federal Premium, CCI, Blackhawk, Bushnell, Weaver, CamelBak, Redfield and many more familiar names in its stable of firms. Serengeti, Cébé and Bollé are icons in the world of stylish and protective eyewear, offering specialized versions for skiing, mountaineering and other outdoor activities. The latter also offers a line of helmets.
Another change was the announcement earlier this month that Michael Callahan was elected to serve as the company’s Board of Directors Chairman. “I am honored to be elected chairman of Vista Outdoor,” he said. “I am optimistic about the future, and the board is impressed with how quickly our new CEO Chris Metz has wrapped his mind around the business. His strategic, savvy and decisive approach is exactly the right leadership the company needs to realize the full potential of our diverse portfolio of iconic brands.”
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