Monday, April 22, 2024
HomeNEWSINTERNATIONALFOX CHANGES HANDS AGAIN

FOX CHANGES HANDS AGAIN

Iconic US motocross apparel brand Fox Racing has been acquired by Vista Outdoor for £452m, with the potential for an additional £42m earn-out based on the company’s performance in its current financial year. Vendor is private equity firm Altamont Capital Partners, which bought Fox Racing in 2014 from the founding Fox family.

Vista, based in the US State of Minnesota, is a large-scale specialist in the American outdoor recreation sector, with a widely diversified range of brands spanning everything from hunting rifle and shotgun ammunition to less controversial equipment for camping, mountaineering, skiing and snowboarding. It is listed on the New York Stock Exchange and has a current market capitalisation of about £1.34bn.

Commenting on the deal, Vista Outdoor chief executive Chris Metz said: “Fox Racing is an ideal fit for our portfolio, with a reputation covering high-quality helmets, protective gear and apparel for motocross and mountain biking. It is synergistic to our existing action sports business unit, which also includes Bell motorcycle helmets.”

Fox Racing chief executive Jeffrey McGuane will remain in place after the acquisition is complete, as will all of Fox’s management team in California.

RELATED ARTICLES

Product News

SHARE PRICES AND MARKET ANALYSIS

A snapshot of motorcycle and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 19...