Vista Outdoor Inc. (NYSE: VSTO), which designs and manufacturers recreation and shooting sports products, in September acquired Foresight Sports for $499 million. Vista brands include Remington Ammunition, Bushnell, CamelBak and Bushnell Golf, among others. San Diego Calif.-based Foresight makes launch monitors, simulators and performance/entertainment software for on- and off-course golf activities and a variety of other sports and games.
Higher Growth, Less Cyclical
Anoka, Minn.-based Vista embarked on a strategic initiative several years ago to grow through a number of targeted acquisitions in the outdoor space. The Foresight acquisition expands its presence in higher growth, less cyclical outdoor product markets.
Vista has been introducing a number of golf products under its Bushnell Golf brand, including a variety of rangefinders. Looking to continue its growth in a space that has seen significant expansion over the last few years, Vista acquired Foresight Sports to cross sell launch monitors and golf simulators across its existing platform.
Vista and Foresight have long operated under a license agreement as partners. Earlier in 2021, for example, Bushnell Golf entered into an exclusive partnership with Foresight in the U.S. to bring pro-level launch monitor technology to the everyday golfer via the launch of the Launch Pro, a personal launch monitor. Foresight’s GCQuad launch monitor, meanwhile, is used by PGA Tour players. The Foresight transaction made sense for both parties to consolidate and market under one ownership.
“With more than 36 million golf participants in the U.S. alone, combined with growth in international, digital, and off-course settings, Vista Outdoor is well positioned as a leader in golf data collection, hardware development, game improvement and accuracy,” Chris Metz, the CEO of Vista Outdoor, said in a statement when the deal was announced.
Vista used cash on hand and available liquidity under its asset-based revolving credit facility to complete the transaction.
For more Deals of the Year coverage, see Mergers and Acquisitions Reveals the 2022 Middle-Market Deals of the Year.