Remington Outdoor gets approval to sell ammunition assets to Vista

By Sarah Lizee

Olympia, Wash., Oct. 1 – Remington Outdoor Co., Inc. received court approval to sell its ammunition and accessories assets to Vista Outdoor Inc., according to an order filed Wednesday with the U.S. Bankruptcy Court for the Northern District of Alabama.

As previously reported, Vista was named the successful bidder in an auction for the assets.

The buyer 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 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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