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Vista Outdoors Sells Ammunition Companies To CSG In $1.91 Billion Deal

In a stunning deal, American outdoor conglomerate Vista Outdoor sold its ammunition companies to the privately owned CZ Group in a deal worth $1.91 billion. In the staggering deal, CZ group will be acquiring four factories and four consumer brands, which are Federal, Speer, CCI, Hevi-Shot, and Remington. Vista Outdoor is restructuring the company and shedding its shooting sports businesses. The morning for Vista was already turbulent on the NYSE when the company announced a cut in its sales forecast for the entire year; shares tumbled about 20%.