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One of the world’s best-known fly fishing brands has been sold for the second time in just over two years.
SIMMS Fishing Products is part of the Revelyst division of the US-based Vista Outdoor conglomerate which has entered into a definitive agreement with Strategic Value Partners (SVP) for the $1.125 billion sale. The Boseman, Montana company joined Vista for $192.5m in July 2022.
“The Board has worked tirelessly to deliver maximum value to its stockholders and we are pleased to have reached agreement with SVP to help us achieve that objective,” said Michael Callahan, Chairman of the Vista Outdoor Board of Directors.
David Geenberg, Head of SVP’s North American Investment Team, said: “We are a strong believer in the Revelyst story and the potential of this business. With a portfolio of diverse market-leading brands in the outdoor industry, Revelyst has an unparalleled opportunity to capture market share through its exceptional consumer focus and strengthen its platforms through its operational and supply chain enhancements.
“We are happy to be partnering with the strong leadership team at Revelyst to help unlock its true potential.”
The deal is expected to close by January next year.
Picture: SIMMS Fishing Products.
