The Czechoslovak Group Highlights the Benefits of Its Planned Acquisition of Vista Outdoor’s Sporting Products Business, The Kinetic Group
Reiterates that Definitive Merger Agreement For All-Cash Acquisition Includes Fully Committed Financing Backed by Leading
Emphasizes that CSG is a Significant Supplier to
Notes that CSG Operates Ammunition Production Facilities in
CSG-
“CSG is a leading industrial technology company operating across strategic business segments including defense, aerospace, ammunition and mobility. Under the leadership of current CEO and 100% owner
We have a demonstrated history of supporting the long-term growth of our portfolio companies. We look forward to successfully closing the Acquisition of The Kinetic Group and becoming the steward of such venerable American brands as Federal, CCI and Remington. As we have publicly stated, we intend to keep in place The Kinetic Group’s existing leadership, invest in the business and continue production in the
Additionally, we would note that we have continued to invest in the
We would also like to highlight several benefits of the planned Acquisition and details about CSG’s track record, including:
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We are a significant supplier to
NATO andUkraine and have no ties toRussia ,China or otherU.S. adversaries. CSG is among the top providers of artillery ammunition forNATO and recently announced that we intend to invest several hundred million dollars more in our ongoing efforts to bolster Ukraine’s defense capabilities by expanding our supply of artillery ammunition, tanks and artillery systems to the country.1 Several of our companies hold topNATO security clearances and we work withU.S. defense companies. This would not be possible if we had ties toU.S. adversaries such asRussia orChina .
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We have demonstrated our commitment to manufacturing in the
U.S. Through our ownership ofFiocchi Munizioni , we already have aU.S. presence, with production facilities inLittle Rock, Arkansas andOzark, Missouri . In fact, we are currently considering expanding ourU.S. production capacity. Any claim that CSG has eliminatedU.S. jobs is completely wrong.
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We intend to respect and maintain the production quality and supply of legacy brands that Americans have relied on for decades. CSG understands the special importance to American consumers of the brands that are part of The Kinetic Group. Our senior team includes experienced industry professionals who manage our firearms related businesses. We have demonstrated through our ownership of
Fiocchi Munizioni andArmi Perazzi that we are deeply committed to providing high-quality products to customers. Our focus will be on preserving and developing the entire product portfolio of the business and maintaining the standards that customers expect.
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We are committed to supporting the regulatory review process and remain confident we will receive all necessary approvals for the Acquisition. In December of 2023, the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired, meaning the
Federal Trade Commission (“FTC”) has cleared the Acquisition from an antitrust perspective. OnMarch 28 ,Vista Outdoor and CSG announced that we had voluntarily withdrawn and re-filed our joint voluntary notice to theCommittee on Foreign Investment inthe United States ("CFIUS") to allow CFIUS additional time to conduct diligence on the proposed Acquisition. Working alongsideVista Outdoor , we are actively engaged in the process and believe we will secure all required approvals.It’s important to note that we successfully went through CFIUS screening when we acquiredFiocchi of America and itsArkansas andMissouri facilities in 2022.”
About
1 “Czech Billionaire Wants to Help Ukraine Produce More Ammunition,” Bloomberg, |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240408259232/en/
Andrej Čírtek, Spokesperson
Mobile: +420 602 494 208
Email: andrej.cirtek@czechoslovakgroup.cz
Or
dzacchei@longacresquare.com / JGermani@longacresquare.com
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