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SVTPerformance's Chain of Restaurants
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More Remington Bankruptcy Results
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<blockquote data-quote="Weather Man" data-source="post: 16505280" data-attributes="member: 137766"><p><span style="font-size: 22px"><strong>Vista Outdoor takes control of Remington Outdoor assets</strong></span></p><p>Oct. 13, 2020 7:06 AM ET|About: <a href="https://seekingalpha.com/symbol/VSTO" target="_blank">Vista Outdoor Inc. (VSTO)</a>|By: <a href="https://seekingalpha.com/author/sa-editor-clark-schultz" target="_blank">Clark Schultz</a>, SA News Editor </p><p></p><p></p><p>Vista Outdoor (NYSE:<a href="https://seekingalpha.com/symbol/VSTO" target="_blank">VSTO</a>) announces it closed on the acquisition of certain assets related to Remington Outdoor Company's ammunition and accessories businesses, and related intellectual property.</p><p></p><p>The company expects the $81.4M transaction to be accretive to earnings in FY22, not including transaction and transition costs, For calendar year 2019, aggregate net sales by the Remington ammunition and accessories brands were ~$200M.</p><p></p><p>Vista Outdoor acquired select assets related to Remington's ammunition and accessories businesses, including Remington's Lonoke, Arkansas manufacturing facility and the Remington brand and trademarks.</p><p></p><p>Vista Outdoor used a combination of ~$51M of cash on hand and ~$30M from its asset-based revolving credit facility to complete this transaction.</p><p></p><p>"The migration back to nature and into the outdoors is the future. The combination of beloved ammunition brands created by this transaction will benefit shooting sports enthusiasts, outdoor recreation retailers and Vista Outdoor for many years to come," says Vista CEO Chris Metz.</p><p></p><p>Source: <a href="https://seekingalpha.com/pr/18040275-vista-outdoor-announces-closing-of-acquisition-of-remington-outdoor-companys-ammunition-and" target="_blank">Press Release</a></p></blockquote><p></p>
[QUOTE="Weather Man, post: 16505280, member: 137766"] [size=6][b]Vista Outdoor takes control of Remington Outdoor assets[/b][/size] Oct. 13, 2020 7:06 AM ET|About: [URL='https://seekingalpha.com/symbol/VSTO']Vista Outdoor Inc. (VSTO)[/URL]|By: [URL='https://seekingalpha.com/author/sa-editor-clark-schultz']Clark Schultz[/URL], SA News Editor Vista Outdoor (NYSE:[URL='https://seekingalpha.com/symbol/VSTO']VSTO[/URL]) announces it closed on the acquisition of certain assets related to Remington Outdoor Company's ammunition and accessories businesses, and related intellectual property. The company expects the $81.4M transaction to be accretive to earnings in FY22, not including transaction and transition costs, For calendar year 2019, aggregate net sales by the Remington ammunition and accessories brands were ~$200M. Vista Outdoor acquired select assets related to Remington's ammunition and accessories businesses, including Remington's Lonoke, Arkansas manufacturing facility and the Remington brand and trademarks. Vista Outdoor used a combination of ~$51M of cash on hand and ~$30M from its asset-based revolving credit facility to complete this transaction. "The migration back to nature and into the outdoors is the future. The combination of beloved ammunition brands created by this transaction will benefit shooting sports enthusiasts, outdoor recreation retailers and Vista Outdoor for many years to come," says Vista CEO Chris Metz. Source: [URL='https://seekingalpha.com/pr/18040275-vista-outdoor-announces-closing-of-acquisition-of-remington-outdoor-companys-ammunition-and']Press Release[/URL] [/QUOTE]
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