Vista Outdoor Inc. designs, manufactures, and markets consumer products in the outdoor sports and recreation markets in the United States and internationally. The company operates through two segments, Shooting Sports and Outdoor Products. The Shooting Sports segment offers ammunition products, including centerfire ammunition, rimfire ammunition, shotshell ammunition, and reloading components; and hunting and shooting accessories comprising high-performance hunting arrows, game calls, hunting blinds, game cameras, decoys, reloading equipment, clay targets, premium gun care products, holsters, duty gear, bags, packs, binoculars, riflescopes, and telescopes. The Outdoor Products segment offers sports protection products, such as helmets, goggles, and accessories for cycling, snow sports, action sports, and powersports; outdoor cooking products that include grills, stoves, and cookware; golf products, which comprise laser rangefinders and other golf technology products; and hydration products, including hydration packs and water bottles. The company sells its products to outdoor enthusiasts, hunters and recreational shooters, athletes, law enforcement, and military professionals through various mass, specialty, and independent retailers and distributors, as well as directly to consumers through brand's website. Vista Outdoor Inc. was incorporated in 2014 and is headquartered in Anoka, Minnesota.
IPO Year: 2015
Exchange: NYSE
Website: vistaoutdoor.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
8/7/2024 | $43.00 | Buy → Neutral | B. Riley Securities |
5/10/2024 | $33.00 → $37.00 | Buy → Hold | Lake Street |
5/10/2024 | $37.00 → $41.00 | Buy | Monness Crespi & Hardt |
4/4/2024 | $38.00 | Neutral → Buy | ROTH MKM |
2/2/2024 | $34.00 → $37.00 | Buy | Monness Crespi & Hardt |
12/15/2023 | $32.00 | Buy | B. Riley Securities |
9/20/2022 | $26.00 | Hold | Jefferies |
7/26/2022 | $53.00 → $32.00 | Buy → Neutral | ROTH Capital |
7/13/2022 | $54.00 | Buy | MKM Partners |
7/13/2022 | Overweight → Sector Weight | KeyBanc Capital Markets |
MNC Capital Partners, L.P. ("MNC") announced today that it is committed to its fully financed $42 per share all cash offer for Vista Outdoor Inc (NYSE:VSTO), and that it will not reduce the $42 per share price. MNC also said that it is willing to make a tender offer directly to Vista's shareholders at $42 a share, if Vista approves of MNC making the offer and allows shareholders to decide whether to accept it. MNC's Mark Gottfredson said, "We want Vista shareholders to know that we are committed to our offer and will not reduce the $42 price. To demonstrate that commitment we are willing to make a tender offer, and hope that Vista would agree to our making the offer so shareholders can dec
Reaffirms Outlook for Fiscal Year 2025 The Company reaffirms its guidance for Fiscal Year 2025 for Vista Outdoor, as well as The Kinetic Group and Revelyst. The Company expects the following results for Fiscal Year 2025, among other guidance previously disclosed: Sales in the range of $2.665 billion to $2.775 billion The Kinetic Group Sales expected to be approximately $1.425 billion to $1.475 billion Revelyst Sales expected to be approximately $1.240 billion to $1.300 billion Adjusted EBITDA in the range of $410 million to $490 million1 The Kinetic Group adjusted EBITDA expected to be approximately $350 million to $400 million Revelyst adjusted EBITDA expected to be app
The amended merger agreement with CSG further increases the base purchase price payable by CSG for the acquisition of The Kinetic Group business (the "CSG Transaction") by $50 million to $2.15 billion. In addition, Vista Outdoor has determined that an additional ~$125 million of cash should be returned to Vista Outdoor's stockholders as cash consideration. This follows a careful review of Revelyst's capital allocation strategy, contemplated divestitures and the availability of the ABL facility, and the determination that capitalizing Revelyst with cash and cash equivalents of ~$125 million is sufficient to execute the Revelyst business plan. In total, the increase in the base purchase pric
Sends Letter to Vista Board of Directors Outlining Why Tax-Free Spin-Off or Cash Offer for the Entire Company Are Superior to the Proposed Sale of The Kinetic Group NEW YORK, July 17, 2024 /PRNewswire/ -- Gates Capital Management, Inc. ("Gates Capital Management" or "we"), an event-driven alternative asset manager that beneficially owns 5,589,041 shares, or approximately 9.6%, of Vista Outdoor, Inc. ("Vista" or the "Company") (NYSE:VSTO), today sent a letter to the Vista Board of Directors (the "Board") regarding its intention to vote AGAINST the pending sale of The Kinetic Group to Czechoslovak Group a.s. ("CSG").
Lake Street analyst Mark Smith maintains Vista Outdoor (NYSE:VSTO) with a Hold and raises the price target from $37 to $40.
MNC's letter included the following: "It is unfortunate that Vista has not engaged with us for almost two months, has failed to make disclosures that shareholders need to make an informed decision, and has made untrue statements about our offer. In light of this, we feel compelled to write to you.
The Company believes the ISS report does not provide a full and fair recommendation to Vista Outdoor stockholders.
MNC questions whether the Vista Board is acting in good faith, and why Vista requested financing commitments and a merger agreement if it had not been prepared to accept MNC's $42 per share proposal.
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B. Riley Securities downgraded Vista Outdoor from Buy to Neutral and set a new price target of $43.00
Lake Street downgraded Vista Outdoor from Buy to Hold and set a new price target of $37.00 from $33.00 previously
Monness Crespi & Hardt reiterated coverage of Vista Outdoor with a rating of Buy and set a new price target of $41.00 from $37.00 previously
ROTH MKM upgraded Vista Outdoor from Neutral to Buy and set a new price target of $38.00
Monness Crespi & Hardt reiterated coverage of Vista Outdoor with a rating of Buy and set a new price target of $37.00 from $34.00 previously
B. Riley Securities resumed coverage of Vista Outdoor with a rating of Buy and set a new price target of $32.00
Jefferies initiated coverage of Vista Outdoor with a rating of Hold and set a new price target of $26.00
ROTH Capital downgraded Vista Outdoor from Buy to Neutral and set a new price target of $32.00 from $53.00 previously
MKM Partners initiated coverage of Vista Outdoor with a rating of Buy and set a new price target of $54.00
KeyBanc Capital Markets downgraded Vista Outdoor from Overweight to Sector Weight
CSG Agrees to Purchase 7.5% of Standalone Revelyst for $150 Million, Valuing Revelyst at $2.0 Billion Revelyst Plans to Establish Share Repurchase Program Following Closing of CSG Transaction Continues to Engage with MNC and Urges MNC to Provide a Best and Final Proposal Gates Capital Is a Conflicted Party – Vista Outdoor's Second Largest Stockholder Revealed as an Investor in MNC's Proposal Vista Outdoor Inc.'s ("Vista Outdoor", the "Company") (NYSE:VSTO) Board of Directors today issued the following statement: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240912742992/en/(Graphic: Vista Outdoor Inc.) We take seriously our
Board of Directors Continues to Engage with MNC Capital as Part of Ongoing Review of Strategic Alternatives Company to Adjourn Special Meeting of Stockholders to Vote on CSG Merger Agreement to September 27, 2024 Vista Outdoor Inc. ("Vista Outdoor", the "Company") (NYSE:VSTO) today announced that, as part of the Board of Directors' ongoing review of strategic alternatives to maximize stockholder value, the Company and its Board, and their respective financial and legal advisors, are continuing to engage with MNC Capital ("MNC") and its private equity partner and advisors with respect to MNC's revised proposal to acquire Vista Outdoor for $43.00 per share in cash, which was submitted on Se
Board Received Proposal from MNC on Friday Evening that Expires on Monday Vista Outdoor Inc.'s ("Vista Outdoor", the "Company") (NYSE:VSTO) Board of Directors today commented on MNC Capital's ("MNC") most recent communication: The Vista Outdoor Board of Directors has been negotiating extensively with MNC. Notwithstanding our good faith efforts, MNC sent the Board a revised proposal last evening after 10:00 PM ET that expires on Monday. The public communication by MNC only hours after delivery of the proposal as well as the Monday expiration continue a frustrating pattern and is not constructive. Vista Outdoor's Board of Directors remains driven to maximize value for stockholders, will con
Vista Outdoor Board of Directors Committed to Maximizing Value to Stockholders; Ongoing Review of Strategic Alternatives Continuing to Progress; Special Meeting of Stockholders Scheduled to Be Held September 13, 2024 Vista Outdoor Reaffirms Fiscal Year 2025 Outlook: Expects FY2025 Sales of $2.665 Billion to $2.775 Billion, Expects Adjusted EBITDA in the Range of $410 Million to $490 Million Vista Outdoor Strong Q1 FY2025 Cash Provided by Operating Activities of $54 Million and Adjusted Free Cash Flow of $70 Million; Total Debt Decreased $85 Million Sequentially to $635 Million; Net Debt of $579 Million and a Net Debt Leverage Ratio of 1.3x Revelyst Strategically Positioned to Unlo
Company Adjourns Special Meeting for CSG Transaction to September 13, 2024 Vista Outdoor Inc. ("Vista Outdoor" or "the Company") (NYSE:VSTO) today announced that its Board of Directors (the "Board") has commenced a review of strategic alternatives, which includes: Exploration of a full range of alternatives for Revelyst, including a potential sale of Revelyst. The Czechoslovak Group a.s. ("CSG") is also considering an acquisition of Revelyst with potential partners (in addition to its proposed acquisition of The Kinetic Group). Engagement with MNC Capital ("MNC") and its private equity partner with respect to its proposal to acquire Vista Outdoor to see if it can deliver superior va
GAMCO Asset Management Inc. ("GAMCO"), an affiliate of GAMCO Investors, Inc. (OTCQX:GAMI), and certain other affiliates own, on behalf of their clients, approximately 1.05% of the outstanding common stock of Vista Outdoor Inc. (NYSE:VSTO) (the "Company"). On July 26, 2024, GAMCO sent a letter to the Company's Chairman of the Board. A copy of the letter is referenced herein. Mr. Michael Callahan Chairman of the Board Vista Outdoor, Inc. Dear Michael: GAMCO Asset Management Inc. ("GAMCO"), on behalf of its clients, and certain of its affiliates owns approximately 613,207 shares of Vista Outdoor representing approximately 1.05% of Vista's common stock outstanding. We are writing to let
Reiterates Intention to Vote AGAINST the CSG Proposal Recently Released Financial Results from Vista Make It Clear That Selling the Entire Company Provides Shareholders a Better Return Than Divesting The Kinetic Group NEW YORK, July 26, 2024 /PRNewswire/ -- Gates Capital Management, Inc. ("Gates Capital Management" or "we"), an event-driven alternative asset manager that beneficially owns 5,589,041 shares of common stock, or approximately 9.6%, of Vista Outdoor, Inc. ("Vista" or the "Company") (NYSE: VSTO), today stated its belief that the $42 all-cash offer for Vista from MNC Capital Partners, L.P. ("MNC") is superior to the proposed sale of The Kinetic Group to Czechoslovak Group a.s. ("CS
CSG's Fully Financed Bid Provides Vista Outdoor Shareholders Certainty and Opportunity to Realize Superior Value Vista Outdoor Shareholders Can Vote FOR the CSG Transaction at Special Meeting of Stockholders on July 30, 2024 PRAGUE, July 23, 2024 /PRNewswire/ -- Czechoslovak Group ("CSG"), a leading global industrial holding company, which recently increased its offer for Vista Outdoor Inc.'s (NYSE:VSTO) ("Vista Outdoor") The Kinetic Group to $2.15 billion, today reaffirmed its strong commitment to successfully completing the acquisition. CSG believes its fully financed bid maximizes the value that will be received by Vista Outdoor shareholders, and that the transaction can be completed in
Vista Outdoor Inc. (NYSE:VSTO) ("Vista Outdoor" or "we") today issued the below statement in response to MNC Capital to set the record straight: MNC Capital ("MNC") misled investors today by claiming that it needs Vista Outdoor's approval in order to make a tender offer. We want to set the record straight -- MNC is not subject to any restrictions from Vista Outdoor that would require Vista Outdoor to consent to MNC making an unsolicited tender offer. For the avoidance of doubt, the Vista Outdoor Board has already rejected MNC's proposal. Vista Outdoor does not support MNC's proposal and firmly believes that the transaction with Czechoslovak Group a.s. ("CSG") is superior. Vista Outdoor
MNC Committed to $42 Per Share Offer for Vista Outdoor MNC Willing to Make Tender Offer Directly to Vista Shareholders MNC Committed to Not Lowering $42 Price MNC Capital Partners, L.P. ("MNC") announced today that it is committed to its fully financed $42 per share all cash offer for Vista Outdoor Inc (NYSE:VSTO), and that it will not reduce the $42 per share price. MNC also said that it is willing to make a tender offer directly to Vista's shareholders at $42 a share, if Vista approves of MNC making the offer and allows shareholders to decide whether to accept it. MNC's Mark Gottfredson said, "We want Vista shareholders to know that we are committed to our offer and will not red
Revelyst is thrilled to appoint longtime supply chain and business operations leader Joe Beck to the position of Chief Supply Chain Officer. Revelyst, a collective of world-class maker brands that design and manufacture performance gear and precision technologies and a segment of Vista Outdoor Inc. (NYSE:VSTO), today announced the appointment of Joe Beck as Chief Supply Chain Officer, effective April 22. In the third quarter, Revelyst launched GEAR Up, the company's plan to simplify its business model, deliver increased efficiency and profitability, and reinvest in its highest potential brands to accelerate growth and transformation. The appointment of a seasoned, transformational supply
Revelyst appoints distinguished human resources professional Joyce Butler to the position of CHRO as it prepares to become a standalone public company. Revelyst, a collective of world-class maker brands that design and manufacture performance gear and precision technologies, today announced the appointment of Joyce Butler as Chief Human Relations Officer. Revelyst, the Outdoor Products division of Vista Outdoor Inc. (NYSE:VSTO), is in the process of separating into a standalone public company, with an expected execution date of later this year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240122821825/en/VSTO) and a collecti
The company has announced that Jung Choi will serve as General Counsel and Corporate Secretary of Revelyst following the planned separation of its Outdoor Products segment Vista Outdoor Inc. (NYSE:VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, today announced that Jung Choi will serve as General Counsel and Corporate Secretary for Revelyst following Vista Outdoor's planned separation of its Outdoor Products segment into a standalone public company. Her appointment is effective Oct. 23. Until the completion of the separation, Choi will serve as Co-General Counsel of Vista Outdoor, wi
Andy Keegan, Vice President and interim CFO for Vista Outdoor, has been appointed CFO for the Sporting Products Company following the spinoff. Jeff Ehrich, interim General Counsel and Corporate Secretary for Vista Outdoor, has been appointed General Counsel and Corporate Secretary for the Sporting Products Company following the spinoff. Vista Outdoor Inc. (NYSE:VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, today announced its Board of Directors has made two appointments for the company's Sporting Products Company following the spinoff of Vista's Outdoor Products business. Thi
Nyman, previously chief operating officer and president of Hasbro Inc., takes over the Outdoor Products segment on Aug. 21 and will lead the new Outdoor Products Company following a planned separation later this year. Nyman and Sporting Products CEO Jason Vanderbrink will be elevated to the Vista Outdoor Board of Directors. Gary McArthur, interim CEO of Vista Outdoor, will remain focused on the planned separation and retain that title until the split, will then become chairman of the board of the new Outdoor Products Company. Vista Outdoor Inc. (NYSE:VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers
Judd most recently served as president and general manager of Salomon North America, where he was responsible for all aspects of the brand's business. Vista Outdoor Inc. (NYSE:VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor products to consumers around the globe, today announced it has appointed Jordan Judd as president of its Bozeman, Montana-based brand Simms Fishing Products, effective Aug. 1. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230710155001/en/Vista Outdoor Inc. has appointed Jordan Judd as president of its Bozeman, Montana-based brand Simms Fishing Produc
ANOKA, Minn., March 8, 2023 /PRNewswire/ -- Vista Outdoor Inc. (NYSE:VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, announced that Tig H. Krekel has retired as vice chairman and member of the company's board of directors, effective Feb. 27, 2023. Due to his long service to the company and its predecessor company, ATK, the board awarded Mr. Krekel with director emeritus status for one year. During this period, he will provide consultancy advice to the board at the board'
Tarlecki most recently served as chief integration officer at Simms, where he led the brand's integration into Vista Outdoor and helped the team deliver 25 percent year-over-year growth in the third quarter. ANOKA, Minn., March 2, 2023 /PRNewswire/ -- Vista Outdoor Inc. (NYSE:VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, today announced that it has named Derek Tarlecki as president of its Bozeman, Mont.-based brand Simms Fishing Products, effective immediately. Tarlecki
Company Remains on Track to Complete the Separation of its Outdoor Products and Sporting Products Segments in Calendar Year 2023 Separately, Today Announced Solid Third Quarter Earnings Results ANOKA, Minn., Feb. 2, 2023 /PRNewswire/ -- Vista Outdoor Inc. (NYSE:VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, today announced that Gary McArthur, a member of the Company's Board of Directors, has been appointed Interim Chief Executive Officer, effective immediately. Mr. McArthur succeeds Chris Metz, who agreed to resign as CEO and director at the request of the Vista Outdoor Board based on
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Vista Outdoor Board of Directors Committed to Maximizing Value to Stockholders; Ongoing Review of Strategic Alternatives Continuing to Progress; Special Meeting of Stockholders Scheduled to Be Held September 13, 2024 Vista Outdoor Reaffirms Fiscal Year 2025 Outlook: Expects FY2025 Sales of $2.665 Billion to $2.775 Billion, Expects Adjusted EBITDA in the Range of $410 Million to $490 Million Vista Outdoor Strong Q1 FY2025 Cash Provided by Operating Activities of $54 Million and Adjusted Free Cash Flow of $70 Million; Total Debt Decreased $85 Million Sequentially to $635 Million; Net Debt of $579 Million and a Net Debt Leverage Ratio of 1.3x Revelyst Strategically Positioned to Unlo
Vista Outdoor Reaffirms Fiscal Year 2025 Outlook; Reports Preliminary Q1 FY2025 Results Revelyst Expected to Pursue 12-Month $50 Million Share Repurchase Program; Strategically Positioned to Unlock Meaningful Growth and Margin Expansion Special Meeting of Stockholders to be Adjourned to July 30, 2024 Company to Host Earnings Conference Call on Tuesday, August 6, 2024, at 9 a.m. ET to Review Full Quarterly Results, Outlook and Strategy Vista Outdoor Inc. (NYSE:VSTO) ("Vista Outdoor", "we" or the "Company") today announced that on July 21, 2024, the Company entered into an amendment to the merger agreement with Czechoslovak Group a.s. ("CSG"). In addition, the Company reaffirmed its F
Sends Letter to Vista Board of Directors Outlining Why Tax-Free Spin-Off or Cash Offer for the Entire Company Are Superior to the Proposed Sale of The Kinetic Group NEW YORK, July 17, 2024 /PRNewswire/ -- Gates Capital Management, Inc. ("Gates Capital Management" or "we"), an event-driven alternative asset manager that beneficially owns 5,589,041 shares, or approximately 9.6%, of Vista Outdoor, Inc. ("Vista" or the "Company") (NYSE:VSTO), today sent a letter to the Vista Board of Directors (the "Board") regarding its intention to vote AGAINST the pending sale of The Kinetic Group to Czechoslovak Group a.s. ("CSG").
Cash Consideration Delivered at Closing in CSG Transaction Increased 24% or $3.10 per share from $12.90 to $16.00 per share of Vista Outdoor Common Stock Vista Outdoor Inc. ("Vista Outdoor" or the "Company") (NYSE:VSTO) today announced that, on May 27, 2024, it entered into an amendment to the merger agreement with Czechoslovak Group a.s. ("CSG"). The amended agreement, among other things, increases the base purchase price payable by CSG for the acquisition of The Kinetic Group business (the "Transaction") by $50 million from $1.91 billion to $1.96 billion and increases the cash consideration payable to Vista Outdoor stockholders by $3.10 per share of Vista Outdoor Common Stock from $12
Revelyst Q4 Sales Up 1.4% Over Prior Year to $332 Million, Returning to Organic Growth For First Time In Nine Quarters; The Kinetic Group Q4 Sales of $362 Million for Total Q4 Sales of $694 Million Revelyst Q4 Operating Income Margin Increased 622 Basis Points Year Over Year and Sequentially, Increased 454 Basis Points, While Doubling Adjusted EBITDA Dollars; The Kinetic Group Q4 Operating Income Margin Decreased 422 Basis Points Year Over Year; The Kinetic Group Q4 Adjusted EBITDA of $100 Million Strong Q4 Cash Provided by Operating Activities of $161 Million And Adjusted Free Cash Flow of $161 Million, Driven Largely by Sequential Inventory Reduction of $45 Million, a 6.8% Decrea
Vista Outdoor Inc. ("Vista Outdoor") (NYSE:VSTO) today announced plans to report its fourth-quarter and full-year fiscal 2024 financial results on Wednesday, May 8, 2024, after the market closes. Vista Outdoor's management will host a conference call on Thursday, May 9, 2024, at 9 a.m. ET to review results. In addition to the results, the company expects to discuss its outlook and financial guidance and may discuss matters of strategy during the call. Access the call on Vista Outdoor's website: https://investors.vistaoutdoor.com/Investors/events-and-presentations/default.aspx Telephone replay: For those who cannot participate in the live webcast, a telephone recording of the conference
Highlights that CSG is a Significant Supplier to NATO, Has Several Companies with Top NATO Security Clearance, and Works with Leading U.S. Defense Companies Invites Senator Vance to Visit Any of CSG's Companies and Become Acquainted with the Facts Firsthand The Czechoslovak Group ("CSG") owner and CEO Michal Strnad today sent an open letter to U.S. Senator J.D. Vance (R-OH) addressing concerns he raised in a letter to U.S. Treasury Secretary Janet Yellen in connection to CSG's proposed acquisition of Vista Outdoor Inc.'s (NYSE:VSTO) ("Vista Outdoor") Sporting Products business – recently renamed The Kinetic Group. The full text of the letter can be found below: April 16, 2024 Sena
Sale of The Kinetic Group1 For $1.91 Billion is On Track and Expected to Create Meaningful Value Revelyst1 GEAR Up Transformation Program is Well Underway; Expect to Drive $100 Million of Run-Rate Cost Savings in FY27, Program Provides a Clear Path to Double Standalone Adjusted EBITDA In FY252 Q3 Total Sales of $682 Million In Line With Expectations; Revelyst Sales of $317 Million; The Kinetic Group Sales of $365 Million Q3 Net Income and Adjusted EBITDA of $(148) Million and $94 Million, Respectively; Net Income and Adjusted EBITDA Margins of (21.7)% and 13.7%, Respectively; Q3 Net Income Included a Non-Cash Impairment of Goodwill and Intangible Assets of $219 Million Bala
Vista Outdoor Inc. ("Vista Outdoor") (NYSE:VSTO) today announced plans to report its third quarter fiscal year 2024 financial results on Wednesday, Jan. 31, 2024, after the market closes. Vista Outdoor's management will host a conference call on Thursday, Feb. 1, 2024, at 9 a.m. EST to review results. In addition to the results, the company expects to discuss its outlook and financial guidance and may discuss matters of strategy during the call. Access the call on Vista Outdoor's website: https://investors.vistaoutdoor.com/Investors/events-and-presentations/default.aspx Telephone replay: For those who cannot participate in the live webcast, a telephone recording of the conference call w
Updates 2023 Full-Year Sales and EBITDA Guidance Appoints Christopher T. Metz as President and Chief Executive Officer Solo Brands, Inc. (NYSE:DTC) ("the Company" or "Solo Brands") an omni-channel platform of beloved brands Solo Stove, Chubbies, Oru Kayak, ISLE, and Icy Breeze today announced the appointment of Christopher T. Metz as its new President, Chief Executive Officer ("CEO") and Director of the Board effective January 15, 2024. Mr. Metz succeeds John Merris, who will mutually separate from the Company as its President, CEO and Director effective as of the same date. Mr. Metz has more than 25 years of experience leading consumer and durable goods companies and has compiled