Gottfredson, increasingly making an argument that the ammunitions brands should be owned by U.S.-based investors, would eventually resign from the board in 2024. MNC Capital then reconstituted its offer and made a bid for all of Vista Outdoor, not just the ammunition group.
In the meantime, the company was readying for the split and continuing to do business. Then came another kink in the plan: Chris Metz, hired to head Vista after successfully leading Arctic Cat, abruptly resigned in February 2023. Few details were released. Metz landed as CEO of Solo Stove in January 2024.
Morgan Stanley had identified more than two dozen bidders for the Kinetic Group, according to SEC filings.
Eventually, the list winnowed down to three: Gottfredson’s MNC Capital group, which had not acquired or operated any other company; and two companies from the Czech Republic — Colt CZ, a firearms and ammunition manufacturer, and CSG, which owns more than 100 businesses in the transportation, defense and security industries and several makers of small-caliber ammunition.
A year ago, Vista announced CSG would be the new owner of the Kinetic Group under a deal worth $1.91 billion.
