Vista Outdoor takes over Fox Racing
Vista Outdoor Inc., the parent company of 39 renowned brands that design, manufacture and sell sports and outdoor products to consumers worldwide, today announced that it has entered into a definitive agreement to acquire Fox Racing of Irvine, California, a global icon in motocross, mountain bike and lifestyle equipment for adventurers.
The acquisition price is $540 million. Fox Racing has been a leading voice in the motocross and adventure community for 50 years, with a dedicated group of consumers and talented employees who embody the brand's mission to “Honor Yesterday, Conquer Today, and Invent Tomorrow.”
Fox Racing's long history of producing innovative equipment that empowers racers and explorers to reach new heights fits perfectly with Vista Outdoor's existing portfolio of leading outdoor brands. Fox Racing's net sales grew at a compound annual growth rate of approximately 2019% from calendar year 2021 to 20 and are expected to grow more than that in calendar year 2022.
"Over the past four years, we have built a diversified portfolio of iconic outdoor brands led by a proven leadership team that continues to perform well and deliver strong results for our shareholders“, says Chris Metz, CEO of Vista Outdoor. “With the acquisition of Fox Racing, we continue the successful implementation of our strategy to use acquisitions to expand our leadership position and capitalize on long-term growth opportunities in outdoor sports recreation."
Jeffrey McGuane, CEO of Fox Racing: “Fox Racing fits perfectly into our portfolio and has a reputation for high quality helmets, protective gear and clothing for motocross and mountain biking. Motocross and mountain biking are growing and trusted categories for Vista Outdoor. Fox Racing is synergistic with our existing action sports business unit, which includes Bell Helmets, Giro, Blackburn, Krash, Copilot, Camelbak and Raskullz. The addition of Fox Racing to our portfolio will allow us to target multiple consumer demographics in mountain and road cycling, skiing/snowboarding and powersports."
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