Benzinga | Sep 28, 2020 07:06AM EDT

Vista Outdoor Named Successful Bidder In Bankruptcy Auction To Acquire Remington Ammunition And Accessories Assets

ANOKA, Minn., Sept. 28, 2020 /PRNewswire/ --Vista Outdoor Inc. (NYSE:VSTO), a global designer, manufacturer and marketer of products in the outdoor sports and recreation markets, today announced that it has been named a successful bidder in the auction process conducted in connection with Remington Outdoor Company, Inc.'s ("ROC's") Chapter 11 bankruptcy cases pending in the United States Bankruptcy Court for the Northern District of Alabama. As a result, Vista Outdoor will acquire certain assets related to ROC's ammunition and accessories businesses, including ROC's ammunition manufacturing facility in Lonoke, Arkansas and related intellectual property, including the Remington brand and trademarks. Vista Outdoor has agreed to pay a gross purchase price of $81.4 million for the assets to be acquired, subject to certain customary closing adjustments. The transaction is subject to the approval of the United States Bankruptcy Court for the Northern District of Alabama at a hearing currently scheduled for September 29, 2020, and other customary closing conditions.