All M&A articles – Page 3
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ArticleVista’s Board of Directors reaffirms committment to sale of The Kinetic Group to CSG
Vista Outdoor’s Board of Directors has issued an open letter to its shareholders recommending once again the sale of The Kinetic Group, Vista’s ammo segment, to the Czech company CSG.
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News briefsRevelyst sells wood pellet manufacturer
Vista Outdoor’s outdoor segment, Revelyst, has announced the sale of the assets of Fiber Energy Products, the company’s wood pellet manufacturer, to Lignetics, Inc. Arkansas-based Fiber Energy began producing 100 percent natural wood pellet fuel in 2006 and has grown over time to become a manufacturer of barbecue pellets and ...
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ArticleCSG raises purchase price for The Kinetic Group to $2.1bn
Continuing the back-and-forth over the partial or complete sale of its business segments, Vista Outdoor has announced that it has entered into an amendment to the merger agreement with Czechoslovak Group a.s. (CSG) that increases the purchase price payable by CSG for the acquisition of The Kinetic Group business by ...
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News briefsWeSports acquires holding stake in Swedish company Cargobike
Stockholm-based group WeSports announced the approval of a strategic partnership with the Swedish company Cargobike, founded in 2007, in which the company acquires a holding stake. Cargobike is recognized as the market-leading specialist in cargo bikes and functional mobility in the Nordics, with a turnover of SEK 116 million (€10.2m) ...
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News briefsVista Outdoor reviews MNC’s offer after receiving additional information
Vista Outdoor has officially confirmed receipt of additional information requested from Canadian MNC Capital to review a revised expression of interest from MNC expressing its final desire to acquire Vista Outdoor in an all-cash transaction for $42.00 per share. The Vista Outdoor Board is now carefully considering the additional information ...
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News briefsVista considers MNC’s new offer, postpones CSG vote
After Montréal-based MNC Capital raised its offer for all of Vista Outdoor to $3.2 billion, the group’s Board postponed the July 2 special meeting of shareholders to vote on the sale of The Kinetic Group to Czechoslovak Group (CSG) until July 23. The Board said it would consider MNC’s offer ...
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ArticleTug-of-war over Vista and Kinetic Group continues
While Vista Outdoor announced on June 25, after a long wait, that the Committee on Foreign Investment in the United States (CFIUS) has finally approved the proposed acquisition of Vista Outdoor’s The Kinetic Group division by Czechoslovak Group a.s. (CSG), Montréal-based MNC Capital Partners has once again stepped up its ...
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News briefsBioLite acquires Mpowerd
BioLite, a manufacturer of off-grid energy products, has acquired Mpowerd, a B-Corp specializing in solar lighting and charging. Both Brooklyn, New York-based companies share a similar business model and mission: to provide reliable, off-grid power anywhere in the world, especially in humanitarian settings. Now, under the umbrella of a single ...
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ArticleReaction to ISS disapproval: CSG increases offer for The Kinetic Group
After the US proxy advisory firm Institutional Shareholder Services (ISS) recommended that Vista Outdoor shareholders abstain from voting on the Czechoslovak Group’s (CSG) offer for Vista Outdoor’s The Kinetic Group ammunition business, the Czech prospective buyer has now increased its purchase offer by $40 million from $1.96 billion to $2 ...
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ArticleDarfon Electronics takes over wholesaler and importer Grofa
In August 2020, the German wholesaler and importer Grofa Action Sports GmbH took over the exclusive distribution of the e-bike brand BESV from electronics giant Darfon Electronics Corp. in Germany and Austria. The management board of the listed Taiwanese company has now approved an agreement to this effect. According to ...
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News briefsAdvisory firm withdraws recommendation for The Kinetic Group/CSG deal
US proxy advisory firm Institutional Shareholder Services (ISS) has surprisingly recommended that Vista Outdoor shareholders abstain from voting on Czechoslovak Group’s (CSG) $1.96 billion bid for The Kinetic Group’s ammunition business. ISS has thus updated its analysis after initially recommending that the deal be approved. The transaction is to be ...
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ArticleNew Cake owner introduces himself and his future plans
After Cake founder and CEO Stefan Ytterborn (also founder of the protective equipment company POC) lost a major investor at short notice and his e-motorcycle and e-bike company, founded in 2016, had to file for insolvency on Feb. 1 of this year, the insolvency administrator gave little news about the ...
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News briefsAltor sells 6.9% of RVRC shares
Private equity company Altor has sold shares in outdoor company Revolution Race (RVRC) for SEK 397 million (€35.2m) last Friday, habit.se reported. The sale was made at a discount of about 7.3 percent compared to RVRC’s last closing price on Thursday. Altor, which recently bought Renewcell’s bankruptcy estate, had a ...
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ArticlePulp producer Suzano acquires stake in Lenzing
B&C Group and Suzano S.A. have entered into a long-term partnership regarding B&C’s majority shareholding in Lenzing AG, the world’s leading supplier of cellulose fibers for the textile and nonwovens industry, which is listed on the Vienna Stock Exchange. The B&C Group consists of the holding companies of the Austrian ...
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ArticleVista rejects MNC offer, receives new indication of interest in ammo business
The sale and spin-off plans at Vista Outdoor remain in a state of suspense. The group announced that its Board of Directors, after consultation with its financial and legal advisors, has rejected MNC Capital’s unsolicited expression of interest dated June 6, 2024, in which MNC expressed an interest in acquiring ...
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News briefsFenix Outdoor starts producing at Maloja’s VioModa in Bulgaria
Fenix Outdoor has partnered with German outdoor brand Maloja to operate apparel manufacturing at Maloja’s existing production facility, VioModa, in Plovdiv, Bulgaria. This is the first step towards Fenix Outdoor’s establishment of apparel production in Central Europe. The company sees this as a crucial step towards improving its competitiveness through ...
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ArticleAltor buys the remaining assets of bankrupt Renewcell
The private equity company Altor Equity Partners has acquired the bankruptcy assets of the textile recycling company Renewcell for an undisclosed sum. As part of the acquisition, Altor is creating the new company Circulose, a name already closely associated with Renewcell. The Swedish textile recycling company was founded in 2012 ...
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ArticleVista rejects offer from MNC, decides to partially sell to CSG
Vista Outdoor announced that the Board has again rejected an unsolicited offer from Montréal-based MNC Capital dated March 25, 2024, in which MNC expressed an interest in acquiring Vista Outdoor in an all-cash transaction for $37.50 per Vista share. Michael Callahan, Chairman of the Board, commented that the Board determined ...
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News briefsKent Outdoors sells Kona Bikes to a group led by Kona’s founders
US-based Kent Outdoors has announced that it has closed on the sale of Kona Bikes. The financial details of the transaction have remained undisclosed. Kona was sold to a group led by its original founders, Dan Gerhard and Jake Heilbron. Kent only had bought Kona in early 2022. The new ...
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ArticleBankrupt Renewcell sells pilot plant to manufacturer of non-oil absorption materials
Six weeks after Renewcell’s liquidator, Lars-Henrik Andersson, announced that several bids had been made for the business and assets of Swedish textile recycler Re:NewCell AB, Biosorbe, a Swedish company that produces a bio-based product for absorbing spilled oil, announced on Tuesday that it has acquired the bankrupt textile recycler’s pilot ...
