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Vista Outdoor CEO Chris Metz charts the company’s momentum throughout the pandemic.
Vista Outdoor acquires two companies to expand its already giant repertoire of hunting and sports machinery and equipment, the company said on Wednesday.
Vista Outdoor, based in Anoka, Minnesota, acquires the hunt Sportswear brand, Venor, which focuses on women’s clothing, according to an announcement on Wednesday morning. The company will also take ownership of the electric bicycle company QuietKat, which designs and manufactures electric bicycles for outdoor sports, such as camping, hunting and fishing.
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Venor is also a Minnesota-based company and was founded five years ago, Vista said. Venor’s clothing is 100% made in America and the Latin name means “I hunt”. Founder Angela Erickson wrote on her website that she struggled to find “hunting-inspired fashion” for women who generally didn’t look alike.
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“Let’s be honest: Unless you like giant logos, camouflage patterns, or the color pink, there just weren’t a lot of quirky, hunting-inspired clothing you could wear without feeling like you had just emerged from a tree, ”she wrote on the company’s website. “Long ago, people wore nice clothes for hunting and fishing. Why not now?”
As for QuietKat, the company is based in Eagle, Colorado and was co-founded by twin brothers, Jake and Justin Roach. The acquisition comes at a time when the e-bike market is one of the fastest growing in the industry, Vista said.
Sales of e-bikes soared 145% in 2020, the company said.
Hunter shoots during hunting rifle and rifle sighting and test firing in a safe environment for the upcoming deer hunting season at the Illinois State Police Range in Joliet, Illinois on Nov. 12, 2011. (REUTERS / Jeff Haynes / Reuters)
Vista’s latest acquisition expands ownership of 34 sports and outdoor recreation brands, including CamelBak, Remington and Bushnell.
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Earlier this month, it reported fiscal fourth quarter net income of $ 67 million and earnings of $ 1.11 per share. Fourth-quarter sales jumped 40%.
When the company released its quarterly results, CEO Chris Metz said 2021 “promises to be a year where people continue to recreate and enjoy the outdoors.”
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Metz continued: “We enter this year with our highest level of cash flow, our lowest level of debt in years, a power of outdoor brands, a broad addressable market, a record number of passionate advocates of our products and an increased commitment to preserve and protect our planet as we take people out. “
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