Sports and recreation gear company Vista Outdoor has acquired Bell Sports Corp. and other action sports brands from BRG Sports. The deal adds Bell helmets as well as cycling brands Giro, C-Preme and Blackburn to Vista Outdoor’s portfolio, which includes the likes of Bushnell Golf and CamelBak.
“This acquisition is consistent with our strategic growth objective of becoming a world-leading outdoor sports and recreation products company,” says Mark DeYoung, Vista Outdoor chairman and chief executive officer. “This is our third acquisition since becoming an independent public company one year ago, and demonstrates our commitment to creating a solid leadership position in the individual outdoor recreation market with top-tier brands and market-leading capabilities.”
The deal, worth more than $400 million, is still subject to regulatory approval and is expected to close in the next 30-60 days. BRG Sports says the proceeds of the sale will be used to pay down debt, provide financial stability and help grow its Riddell brand of football equipment.
“We are very proud of our employees and the strong cycling, snow and powersports business we’ve built. The Bell and Giro brands have set the standard for innovation and excellence for many years,” said BRG Sports Executive Chairman and CEO Terry Lee. “We are confident that this business will continue to excel and serve as an industry leader under Vista Outdoor ownership.”
[Source: Vista Outdoor, BRG Sports]