Shareholders of Vista Outdoor have approved the $2.23 billion sale of Kinetic, one of the largest US small arms ammunition makers, to Czech defence group Czechoslovak Group (CSG). The deal, part of a $3.35 billion break-up of Vista, will also see its sports unit Revelyst sold in January to Strategic Value Partners for $1.13 billion.

CSG’s bid, initially proposed in October 2023, faced opposition from politicians, including vice-president-elect JD Vance, who raised national security concerns over foreign ownership. Despite this, US regulators approved the deal in June.

CSG’s acquisition strengthens its US presence while balancing government contracts with civilian ammunition sales. Combined with its 2022 purchase of Fiocchi, CSG is set to become the largest western producer of small-calibre ammunition, surpassing Winchester.

Source: www.ft.com

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