Shareholders of the American company Vista Outdoor have officially approved the long-awaited sale of its ammunition division Kinetic Group to the Czech holding Czechoslovak Group (CSG) for USD 2.225 billion.

A price of USD 1.91 billion was originally agreed a year ago, but the deal was postponed due to competing bids, including one from Canadian investment firm MNC Capital. Extended negotiations between CSG and Vista Outdoor eventually led to a revision of the purchase price.

Kinetic Group operates manufacturing facilities in Minnesota, Arkansas, Idaho and Oregon, producing ammunition for the civilian market under the renowned Remington, Federal, CCI, Hevi-Shot and Speer brands. The company employs approximately 3,800 people and reported revenues of $1.5 billion and EBITDA of $416 million for the U.S. fiscal year 2024.

CSG is a global industrial holding company with manufacturing facilities in the Czech Republic, Slovakia, Italy, India, the UK and the USA. Its main focus includes the engineering, automotive, aerospace and defence industries and employs more than 10,000 people worldwide.

In 2022, CSG achieved a 71% increase in sales, which exceeded CZK 42 billion, and net profit rose 49% to almost CZK 5.2 billion.