Vista Outdoor Buys Fox Racing & Simms Fishing
In the year’s most prominent outdoor and sports apparel acquisition, Vista Outdoor has purchased Fox Racing for a mammoth $540 million. Fox Racing is a significant company specializing in mountain bike and motorcycle apparel and equipment. It is forecasting revenue of $350 million for 2022 and has seen sales growth averaging 20% since 2019. The size of the deal shows just how large and much room for growth there is in the outdoor space.
Vista further diversified its portfolio yesterday, announcing its agreement to purchase Simms Fishing for a reported $192.5 million. Vista’s CEO Chris Metz commented on the deal, “With a beloved household name brand like Simms leading the way, we believe we can create a fishing platform that serves the 55 million+ anglers while delivering long-term growth and value for our shareholders for years to come.” The 55 million anglers he references are for the U.S. alone. Vista now owns roughly 40 brands.