- Associated Press - Tuesday, July 28, 2015

July 28—Vista Outdoor continued a buying spree Monday, announcing plans to buy CamelBak Products for $412.5 million.

CamelBak makes hydration packs, reusable water bottles and individual purification and filtration systems used for recreation and by the military.

The company is based in Petaluma, Calif., and is a part of Compass Diversified Holdings in Connecticut. It has 300 employees, who will join the outdoor products segment of Vista Outdoor.

CamelBak distributes its products at stores such as REI and Target, according to a company news release.

“The CamelBak acquisition will strengthen and expand Vista Outdoor’s presence in outdoor sports and recreation with products that complement every outdoor activity where Vista Outdoor’s products are used,” according to the company.

The acquisition is the second by Vista Outdoor since ATK’s former sporting group became its own company in February. It follows Vista’s strategy of expanding into products that appeal to about 40 million outdoor-loving Americans. Part of Vista Outdoor’s ammunition manufacturing is located in Lewiston, where it employs more than 1,000 people.

Last week, the Salt Lake City-based firm announced its purchase of paddleboard maker Jimmy Styks for about $40 million.

In the CamelBak deal, Vista Outdoor intends to use cash on hand and borrow under existing credit, then refinance what’s borrowed with long-term debt financing. The deal is expected to close within the next month, according to a Vista news release.

“Pending such financing, Vista Outdoor has received a commitment to provide $50 million of secured debt financing from Morgan Stanley, which the company does not at this time intend to draw upon, but which provides additional flexibility,” according to the company.

Even before Vista Outdoor was its own company, its ammunition-making predecessor, ATK’s outdoor segment, was venturing into new areas.

It bought Savage Sports Corp., one of the world’s largest makers of hunting rifles and shotguns; as well as Bushnell, which designs, markets and distributes sports accessories such as sunglasses, binoculars and rangefinders.

Williams may be contacted at ewilliam@lmtribune.com or (208) 848-2261.


(c)2015 the Lewiston Tribune (Lewiston, Idaho)

Visit the Lewiston Tribune (Lewiston, Idaho) at www.lmtribune.com

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