Planned Vista Outdoor spinoff to be headquartered in New England - Minneapolis / St. Paul Business Journal
A planned public spinoff of Anoka-based Vista Outdoor will be headquartered in Providence, Rhode Island, a new filing shows. Previously, Revelyst, which comprises the outdoor products business of Vista, was to be based in Bozeman, Montana. A planned public spinoff of Vista Outdoor, a sports goods maker, will be headquartered in Providence, Rhode Island, according to a filing from the Securities and Exchange Commission. The future company, Revelyst, comprises the outdoor-products business of Vista and will trade on the New York Stock Exchange under the symbol GEAR. The company, which has around 2,900 employees, plans to reduce its workforce by less than 10% in the coming months. Eric Nyman, the CEO of the planned company, was recently hired by Vista. Vista has been planning to split off its outdoor products business and its sporting/ammunition business, The Kinetic Group, into separate organizations since 2022.
게시됨 : 한 달 전 ~에 의해 Ethan Nelson ~에 Business
A planned public spinoff of Anoka-based sporting goods maker Vista Outdoor will be headquartered in Providence, Rhode Island, a new filing shows.
The future company, Revelyst, which comprises the outdoor-products business of Vista, was previously expected to be based in Bozeman, Montana.
Eric Nyman was recently hired as CEO of the planned company. Nyman, a former Hasbro executive, works in Providence, according to his LinkedIn profile. The company has multiple jobs posted on its careers site that are based in Providence.
Revelyst has around 2,900 employees total, according to the Securities and Exchange Commission filing from early this week. The filing said Revelyst plans to reduce its workforce by less than 10% in the coming months.
A spokesperson for Vista did not return requests for comment. Vista shareholders will vote on the spinoff plans at a meeting in May.
Revelyst will trade on the New York Stock Exchange under the symbol GEAR.
Vista has been planning to spin off its outdoor products business and its sporting/ammunition business, called The Kinetic Group, into two separate organizations since 2022.
Kinetic, which is in the process of being sold to a Czech company, includes brands like Remington and HEVI-Shot. Vista has in recent months twice rejected attempts from other organizations to purchase The Kinetic Group.
Vista, which is the state's 23rd-largest public company by revenue, was itself the result of a prior corporate split. Federal Premium was a subsidiary of Eden Prairie-based ATK, but that business was spun off to Vista. Vista kept a big employee base and office in Anoka after the deal and, after time headquartered in Utah, moved its headquarters to Minnesota in 2019.