Vista Outdoor made a surprising move earlier this week when the company announced they will begin exploring the option to sell their firearms brands and exit the gun-making industry.
In the press release, Vista states they are looking to explore strategic options to sell assets in certain product categories, and plans to stay the course with its ammo manufacturing, which they claim is the companies “largest core business.” Vista also plans to focus and grow its other outdoor products as well.
“An increased focus on our heritage ammunition business will manifest itself in more innovative and breakthrough new products introduced over the next few years,” Vista Outdoor CEO Chris Metz said in the release.
Vista may now start looking for potential buyers of its Savage and Stevens firearm brands.
CEO Christopher Metz broke the news to investors Tuesday saying, “the company grew too fast and beyond its core” when it acquired over 50 brands in a three year stretch.
“We can confidently say that our core lies in the hunting and shooting sports market and in adjacent activities, such as camping and hiking,” he said. “Our key consumer is someone who participates in these and other outdoor activities.”
A list of companies Vista owns in the firearms, ammunition and shooting accessories includes: Savage Arms, Stevens, Federal Premium, Speer, and American Eagle.