News

Vista Outdoor Inc, the parent company of 41 well-known brands that design, manufacture and market sporting and outdoor gear to consumers around the globe, has announced the closing of its acquisition of apparel and luggage expert Simms Fishing Products.

The cost of buying the Bozeman, Montana-based premium brand is understood to be $192.5 million, which includes a net present value of roughly $20 million in future tax benefits.

“The addition of Simms Fishing Products to the Vista Outdoor family is transformational for our growing Outdoor Products segment,” said Chris Metz, Chief Executive Officer, Vista Outdoor.

“As the anchor of our new fishing platform, Simms broadens our core addressable market into a new, highly attractive category with a premium, innovative brand that boasts significant room for growth. We are especially excited that Simms will continue to call Bozeman home and will keep designing and producing their world-famous waders in Montana.”

Simms was founded in 1980 and later acquired in 1993 by K.C. Walsh, its current Executive Chairman, who continues with the company as a strategic advisor and conservation and government affairs advocate.

Simms CEO Casey Sheahan continues to lead day-to-day operations of Simms, and the current Simms management team and existing employee base will remain in place.

Simms is now part of Vista Outdoor’s Outdoor Products segment and will be included in the new Outdoor Products Company upon the completion of its previously announced separation.

Simms grew net sales by a compound annual growth rate of approximately 15 per cent from 2019 to 2021 and is expected to grow in excess of that in 2022. Vista Outdoor, whose brands include Remington Ammunition, Bushnell, Camelbak and Federal Ammunition, financed the acquisition via an existing ABL credit facility.