Vista offloading eyewear brands
Move is effort to concentrate on core products
Vista Outdoor has reached a deal to sell its Bolle, Serengeti and Cebe eyewear brands for around $158 million, to a “significant” European private-equity fund.
The move is part of the company’s plan to narrow its focus on four product categories: Ammunition, shooting and hunting accessories, hydration bottles and packs and outdoor cooking.
“We are pleased to have successfully reached an agreement to sell our eyewear and safety business at an attractive price,” said chief executive Chris Metz. “We are now turning our efforts to the rest of our divestiture plan as previously communicated in May,” Metz added.
The sale of the eyewear brands is expected to be completed within 30 to 45 days.