Hunting & Fishing
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News briefsRapala joins UN Global Compact
Finnish fishing tackle manufacturer Rapala VMC Corporation announced that it has joined the United Nations Global Compact. Membership in the UN Global Compact allows the company to leverage the expertise and resources of this prestigious organization to advance its sustainability agenda. By aligning with global standards, Rapala VMC aims to ...
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News briefsAngling Direct sees full-year profit double
UK-based fishing tackle retailer Angling Direct saw its pre-tax profits climb to £1.5 million (€1.7m) in the year ended Jan. 31, 2024, up from £700,000 (€815,000) the year before, driven by the development of its omnichannel offer and the growth of its store footprint. Gross margin increased by 34.9 percent. ...
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News briefsNiclas Nyrensten declines re-election and leaves RVRC’s board
Niclas Nyrensten, board member and co-founder of RevolutionRace (RVRC), has announced that he will not seek re-election to the company’s board and will step down in July 2024 at the latest. “The company has, after 10 years, become mature enough to manage without the founders – I and Pernilla, said ...
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ArticleVista Outdoor weighs buyout offer, reports Q4 results
The board of Vista Outdoor continues to recommend the sale of its The Kinetic Group to Czech group CSG, which would pay shareholders $12.90 a share in cash and one share in its Revelyst spin-off. However, the company will conduct a special meeting on June 14 to consider another buyout ...
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ArticleRVRC sets new three-year targets as Q3 results come in strong
Swedish DTC outdoor company Revolution Race (RVRC) disclosed new three-year financial targets ahead of reporting strong Q3 results. The group intends to achieve annual sales growth of 20 percent and an adjusted EBIT margin of 20 percent through FY26/27. In late January, RVCR said its FY23/24 revenue objective was at ...
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ArticleJohnson Outdoors suffers Q2 operating loss
Each of Johnson Outdoors’s four segments reported a double-digit sales decline for the period ended March 29, and two, Watercraft Recreation and Diving, had a quarterly operating loss. The group’s aggregate Q2 operating loss was $253,000 against a profit of nearly $11.4 million in the year-ago period. Ebit slipped by ...
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ArticleRevelyst sells ammunition brand
Revelyst, a Vista Outdoor Inc. company, has announced the sale of RCBS, the company’s reloading brand based in Oroville, California, to Hodgdon Powder Co. Inc, a Shawnee, Kansas-based supplier of smokeless propellants and black powder substitutes. RCBS is a leading manufacturer of ammunition reloading devices for hunters, competitive shooters and ...
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ArticleREI posts $3.76 billion in revenue in 2023, but loses $311 million net
US specialty outdoor retailer REI Co-op released its impact report and financial results for 2023 on April 30. The year closed with $3.76 billion in net sales and nearly $270 million invested back into the co-op community. Net sales were down 2.4 percent from 2022, and the co-op reported a ...
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ArticleCoDi's aggregate Q1 sales nearly unchanged despite net loss
The net loss from continuing operations in Compass Diversified’s (CoDi) branded consumer companies related to sports, outdoor and apparel (5.11 Tactical, Boa, PrimaLoft, and Velocity Outdoor) was $10.5 million against a profit of $1.79 million for the three months ended March 31. Aggregate sales for the four businesses were essentially ...
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News briefsRevelyst reschedules investor day to early fall
Revelyst, the outdoor segment of Vista Outdoor Inc., has announced that the company will postpone its investor day. The change comes in light of the Vista Outdoor Board of Directors’ recent decision to postpone the date of its planned shareholder vote in connection with its third-party investment in the company. ...
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News briefsCompass Diversified divests Crosman
Connecticut-based Compass Diversified (CoDi), the owner of owner PrimaLoft, Boa Technology, 5.11 and Velocity Outdoor, has reached an agreement to sell Crosman Corp., the airgun division of its Velocity Outdoor subsidiary, to Arkansas-based Daisy Manufacturing Co. Financial terms of the transaction for the parent of the Crosman, Benjamin, Game Face, ...
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ArticleShimano value sales down double-digit in Q1
Even during the bicycle boom in the Covid years, the world’s leading bicycle component manufacturer Shimano Inc. repeatedly stepped on the brakes in its outlook for the time after the pandemic. At least the sales figures for the first quarter of 2024 show that the Japanese company was not so ...
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ArticleVista Outdoor leaves option open to sell to MNC for higher price
The uncertainty surrounding the future of Vista Outdoor, respectively Revelyst and The Kinetic Group, continues as the company officially confirmed on April 22 that it has resumed negotiations with Montréal-based MNC Capital in connection with the unsolicited expression of interest dated March 25, 2024, in which MNC indicated it was ...
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News briefsFairpoint Outdoors will soon have a new CEO
Hans Maasbøl, the former CEO of Svendsen Sport, has been chosen as the next CEO of Fairpoint Outdoors. He will replace Jens Buhl Jørgensen, the co-founder and CEO of the Danish company, who will step down at the end of May. Jørgensen will remain as a member of the Board ...
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News briefsSports fishing equipment market to accelerate at 4% CAGR by 2028
The global sports fishing equipment market is projected to grow by $3.25 billion between 2024 and 2028, namely a 3.97 percent compound annual growth rate (CAGR) during the forecast period, according to a recent report by research and advisory firm Technavio. The growth year-over-year from 2022 to 2023 was 3.25 ...
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ArticleKuiu continues international DTC expansion with ESW
California-based DTC outdoor brand Kuiu has expanded its global reach to 37 international markets in partnership with global direct-to-consumer e-commerce company ESW since its inception in 2011. Due to the high demand for its products – mainly ultralight hunting apparel and gear designed to be as affordable and accessible as ...
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ArticleCSG’s acquisition of Kinetic Group is fully backed by JP Morgan Chase
Czechoslovak Group (CSG) has issued a statement reaffirming its commitment to the proposed acquisition of Vista Outdoor’s sporting goods business – recently renamed The Kinetic Group – for a total consideration of $1.91 billion, with fully committed financing from leading US bank JP Morgan Chase. CSG also highlighted the benefits ...
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News briefsGSM Outdoors buys another fishing rod manufacturer
Following the purchase of Phenix Rods last December, GSM Outdoors has now signed an agreement to acquire Mid-America Rod Company, its second brand in the fishing rod segment, for undisclosed terms. Mid-America Rod Company has been manufacturing rods in the USA since 1976. In addition to its own Virtus brand, ...
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News briefsCFIUS accepts re-filed notification of Vista's proposed sale of Kinetic Group
Vista Outdoor Inc. and Czechoslovak Group a.s. (CSG) announced on March 28 that they have voluntarily withdrawn and resubmitted their joint voluntary notification to CFIUS, the United States’ foreign investment review agency, to give CFIUS more time to review CSG’s proposed acquisition of Vista Outdoor’s The Kinetic Group business. With ...
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News briefsChanges in Rapala’s global management team
Rapala VMC Corp. announced that Stanislas de Castelnau, Executive Vice President, Head of Operations is retiring at the end of March 2024 after 23 years with the Finnish fishing tackle manufacturer. He started his career back in 2001 as General Manager of Rapala VMC’s French hook factory (VMC Peche SA) ...
