Remington names Vista Outdoor as winning bidder for ammunition assets

By Sarah Lizee

Olympia, Wash., Sept. 28 – Remington Outdoor Co., Inc. named Vista Outdoor Inc. the successful bidder in the auction to acquire its ammunition and accessories assets, according to a press release.

Vista Outdoor has agreed to pay a gross purchase price of $81.4 million for the assets to be acquired, subject to some customary closing adjustments.

The transaction is subject to the approval of the U.S. Bankruptcy Court for the Northern District of Alabama at a hearing scheduled for Sept. 29.

The transaction is expected to close early in the third quarter of fiscal year 2021.

Remington's other business units, including its firearms businesses, will be purchased by other bidders in the auction and operated independently from Vista Outdoor following the closing of those acquisitions.

Remington is a Huntsville, Ala.-based maker of guns and ammunition. The company filed bankruptcy on July 27 under Chapter 11 case number 20-81688.

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